The price of registering a business name as a trademark in Maryland varies depending on a number of variables, including the type of trademark registration you submit, the number of classes of goods or services you wish to shield, and if you retain legal counsel. Following are some general principles:
– A basic trademark application in Maryland is filed for a filing fee of $225 for each class of products or services. You can be qualified for a reduced filing fee of $200 per class if you file online.
– There is an extra price of $100 per class for “TEAS Plus” or $275 per class for “TEAS RF” (both online choices) if you wish to accelerate your application. Depending on the intricacy of your case and the attorney’s hourly cost, you can anticipate paying several hundred to several thousand dollars in legal expenses if you engage one to file your application. It’s important to remember that trademark fees are ongoing costs. Once you acquire a trademark, you must periodically renew it (every 10 years for federal trademarks and every 5 years for trademarks in Maryland) and use legal means to prevent infringements, which may necessitate legal counsel. Obtaining a Tax Identification Number in Maryland for Your Business
Getting an Employer Identification Number (EIN), commonly referred to as a tax ID number, is another crucial step when beginning a business in Maryland. The IRS issues firms with a special nine-digit number for tax purposes. If you want to create a business bank account, file certain tax returns, or have workers, you must obtain an EIN.
You have three options for requesting an EIN in Maryland: by mail, fax, or online through the IRS website. Applying for an EIN doesn’t cost anything. To apply for an EIN on your behalf, you can also use a third-party provider, but be aware that there can be a charge. Creating a Maryland sole proprietorship registration
You are not obliged to register your business with the state of Maryland if you are a sole proprietor (a business owned and operated by one person). However, depending on the type of your firm, you might need to acquire specific licenses and permits. For instance, the Comptroller of Maryland may require you to obtain a sales tax license if you are selling products or services. LLC Prices in Maryland
The Articles of Organization for an LLC in Maryland must be filed for a charge of $100. – Annual report charge: As of 2021, LLCs in Maryland must submit an annual report and pay a $300 fee.
– Legal costs: These costs may apply if you employ an attorney to help you create an LLC or establish an operating agreement. Sole proprietorship vs. LLC
And finally, you might be debating whether it’s preferable to run a sole proprietorship or an LLC in Maryland. Both alternatives have benefits and drawbacks, and the best option for you will depend on your particular situation. Generally speaking, establishing an LLC offers greater liability protection than doing company as a sole proprietorship because your personal and corporate assets are kept separate. However, forming and maintaining an LLC may cost more, and it may also need more paperwork and record-keeping. To decide which choice is best for you, it’s a good idea to speak with an attorney or accountant.
In conclusion, trademarking a company name in Maryland is a crucial step for safeguarding your brand and discouraging unauthorized use of your name or emblem. Several factors affect the cost of trademarking, and it’s crucial to continually renew and enforce your trademark. When beginning a business in Maryland, other crucial factors to take into account include obtaining a tax ID number, registering as a sole proprietorship, and creating an LLC.