Many LLC’s, small business corporations, and condominium associations doing business in Maine do not have a Maine Registered Agent. The State of Maine requires all such for-profit and non-profit entities (foreign and domestic) to have a Maine Registered Agent, which means a person or entity with an office located in Maine available to receive court related documents during normal business hours. It is vital that you do not serve as your own Registered Agent. If your business or association is sued or subpoenaed the sheriff will appear at your place of business potentially causing an embarrassing and awkward situation. A Maine Registered Agent will also ensure that you are promptly informed about the court related documents and deadlines. Maine law also requires annual reporting and fee filing with the Maine Secretary of State’s office, which are services we also provide as part of our Maine Registered Agent services. Call today to have Ballou & Bedell serve as your Commercial Registered Agent.
The answer is an unequivocal “YES!” Owning and operating your business as an LLC or S-Corporation may not only potentially shield your personal assets from business creditors and lawsuits, but the new tax law heavily favors operating as one of these types of “pass-through” entities. It is a win, win. BUT there are definitely traps for the unwary, and only a professional (not a web-site) can help you choose which form of business entity is right for you. Talk to a lawyer today.