Do you have the perfect name idea for a new business entity in the state of Maryland, but you’re not quite ready to form your company?
Maryland allows you to reserve a business name until you’re prepared for the business formation process, but how does the reservation process work and how long will the state reserve the name for you? In this guide, we’ll run down all the important details of reserving a business name in Maryland.
How to Reserve a Business Name in Maryland
The first step is to determine if your desired business name is even available in Maryland to begin with. Maryland Business Express provides a search tool for checking the availability of business names in the state. Once you’ve determined the availability of your desired name, you can begin the process of reserving it with the state.
Whether you wish to reserve the name of an LLC, LLP, corporation, or other business entity, you will need to file the Corporate Name Reservation Application with the Maryland State Department of Assessments & Taxation. There is no online name reservation process, so you will need to file this form by mail. Before submitting your application, you must provide the following information: State Department of Assessments and Taxation Charter Division
301 W. Preston Street; 8th Floor
Baltimore, MD 21201-2395
In addition to the Corporate Name Reservation Application form, you will need to include a check for $25 (expedited service requires payment of an additional $20). You can then mail the form and the check to the following address:
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How Long Is My Business Name Reserved For?
The Maryland State Department of Assessments & Taxation will reserve your name for 30 days. If you are unable to form your business in this period and wish to extend the name reservation, you may do so by filing the Corporate Name Reservation Application for Re-Reservation. This form requires the same information as the standard Corporate Name Reservation Application, as well as the same $25 processing fee.
Conclusion
Just because you aren’t ready to form your Maryland business entity doesn’t mean you can’t lock down your desired business name.
Reserving a business name in Maryland is a simple process, though it can take several weeks for the Department of Assessments & Taxation to process the paperwork. So, if you have a name that you want to reserve, you should begin the process as soon as possible.