What is A Maryland Amendment?
Maryland requires all businesses to inform the state if they make any major changes to the information that they originally listed in their Articles of Incorporation/Organization. To do this, you will have to go through the process known as an amendment.
Reasons Why You Need To File An Amendment
There are many reasons why you would need to file an amendment. But, generally, any changes that can affect the formal business structure of your company requires you to file an amendment with the state.
A. Changing The Company Name –
- LLCs
If you think that your Maryland LLC should do business under a new name, you have to go through a legal process to formalize this decision. Submit an amendment to the state. To avoid encountering problems in the future, you may also have to update the company name on all state and government records.
- Corporations
Maryland corporations that want to do business using a new name will have to file an amendment. Additionally, you will also need to update the records of the corporation with the state and government.
B. Changing Members Of The Business –
- LLCs
The state has a record of the names, addresses, and contact information of your LLC’s members and/or managers. You have to report any changes to these pieces of information. You can do this by filing an amendment.
- Corporations
Maryland requires corporations to report all of the officers and directors on the Articles of Incorporation. If there are any changes in their names, addresses, or contact information, you can file an amendment.
C. Changing Address Related To The Business –
- LLCs
The address of your LLC is a way for the state to contact your Maryland company. You have to make sure the state is aware if you ever move your office. You can file an amendment or submit a completed Change of Principal Office form.
- Corporations
To make sure that your corporation receives all necessary documents, such as those related to your filing and tax obligations, you have to keep the state updated about your office and mailing addresses. You can either file an amendment or a Change of Principal Office form.
D. Changing Contact Information –
- LLCs
The state has to have a way to communicate with your LLC. Maryland requires LLCs to have a registered agent. This individual/organization acts as the point of contact between you and the state. If there are any changes to the registered agent or their contact details, inform the state using an amendment. You may also choose to file a Change of Resident Agent form for $25.
- Corporations
The state should be able to access your company easily. To ensure this, you have to report any changes in the contact information of your Maryland corporation. If there are changes to your corporation’s registered agent or their contact details, file an amendment. You may also choose a Change of Resident Agent form, which comes with a $25 filing fee.
E. Changing The Number Of Shares That A Corporation Is Authorized To Issue – Maryland LLCs are not authorized to issue shares. This change only applies to corporations. If your Maryland corporation wants to make changes to the number of authorized shares it can issue, you have to file an amendment.
What Is Needed To File An Amendment?
LLC
Maryland LLCs that want to file amendments have to file a completed Articles of Amendment form with the State Department of Assessments and Taxation. You can do this by mail, fax, or in person. You can use the fillable form or draft your own. However, the state only accepts typed documents. If you submit by fax, attach a Fax Cover Sheet and your Visa/MasterCard information. The filing fee is $100.
Corporation
Corporations, on the other hand, have to submit an Articles of Amendment. You can use the ready-made forms or draft your own. File the articles with the State Department of Assessments and Taxation by mail, fax, or in person. All information must be typed. If you submit by fax, include a Fax Cover Sheet and your Visa/MasterCard information.
How Can DoMyLLC Assist With Streamlining The Process?
Making changes to a company’s formation documents require proper completion and filing of paperwork. Depending on the changes, you may also have to take care of other documents. To help ease the process, you can turn to a reliable document filing company like DoMyLLC. Our team can provide support and assistance to Maryland business owners who need help in handling formalities to ensure compliance with the state.
Maryland Amendment FAQs
Is There A Filing Fee For The Amendment?
The filing fee is $100. For expedited service, you will have to pay an additional $50. Another $5 is necessary if you want the state to return the filed amendment to you. Corporations that want to increase their stocks will have to call to find out the additional fees they have to pay.
What Information Is Required For The Articles Of Amendment?
LLCs have to provide the following information:
- Company name
- Exact text of the amendment
- Authorized signature
Corporations have to provide the following information:
- Company name
- Exact text of the amendment
- Authorized signature
- Return address
How Long Does It Take The State To Process The Amendment?
The State Department of Assessments and Taxation usually takes approximately 8 weeks to process an amendment. However, you may have to wait for at least 10 weeks to receive the confirmation by mail. If you choose expedited processing, you can expect them to finish within 7 business days. Faxed documents are automatically expedited. In-person filings are also expedited. If you submit your documents by 4:15, they will process your documents on the same day.
Do You Receive A Copy Of The Certified Amendment From The State?
The State Department of Assessments and Taxation will send the documents to the return address you listed if you pay an additional $5 fee. If you fail to request a copy or you don’t include the payment, they will not send it. You can also check and print the documents through the Business Database of Maryland within 10 business days after the completion of the processing.
Maryland Business Resources
Maryland Office of Secretary of State
Phone:
(410) 767-1340
Address:
Maryland Secretary of State
301 West Preston Street, 8th Floor / Room 801
Baltimore, MD 21201
If you’re interested in more info on filing an amendment, call 888-366-9552.