Maryland is the most densely populated U.S. state on the Atlantic coast, characterized by numerous waterways and coastal areas, such as the Chesapeake Bay (which is why the state is called Chesapeake Bay and America in miniature). Baltimore, the largest city in the state, has a long history as a major seaport. The Maryland Science Center is also located here. Neighboring states are Pennsylvania, West Virginia and Virginia, Delaware, DC. The capital is Annapolis.
Minimum wage is $10,10 per hour, which should be considered, when planning to register a company in Maryland. A part of Maryland is a part of the Washington Underground, so a quarter of the population works in the fields of security, aerospace engineering, nanotechnology, medical research. This is the state with the highest number of millionaires.
The establishment of industries companies in Maryland is beneficial in the following areas:
- a food production;
- a production of computers and electronics;
- a chemical industry;
- a steel casting;
- the aviation technology;
- a coal mining;
- a production of building materials.
Setting up a travel company in Maryland is most profitable in Ocean City, in a part of Baltimore, where there are attractions: the National Aquarium, the harbor, McHenry Fort.
State taxation
Maryland has five income tax categories, ranging from 2% to 6,25%. A federal tax is 21%.
In 23 districts of Baltimore and Maryland, a regional “piggyback” tax is also charged at 1,25–3,2%.
A corporate tax is 8,25%.
A sales tax is 6%.
Dividends are 35%.
The tax on individuals is 5,75%.
In order to register a company in the USA, you must meet the minimum requirements:
- 1 shareholder and 1 director of any nationality are entitled to register a company in America. Their number is not limited, it can also be legal entities;
- Propose a unique name, indicating at the end the legal form (Multi-Member LLC, Single Member LLC, FZ LLC, PLC, SP, JV, RO);
How to open a commercial account in American banks?
If you want to open an account in America, you can request for legal advice on opening a US account from our specialists, and we will provide legal support services at all stages of the process.
This can be done, for example, in banks such as:
- Maryland Financial Bank;
- Chesapeake Bank of Maryland;
- The Harbor Bank of Maryland;
- M&T Bank;
- Maryland Partners Bank;
- Provident Bank.
If you need more information on how to open an account in an American bank remotely, to register an American company remotely, to obtain a business license in the USA and clarify other issues related to registration of a company in Maryland, contact YB Case specialists at the numbers indicated in the section “Contacts”.
