LSWG
Headquarters
201 Thomas Johnson Drive
Frederick, MD 21702-5166
301-662-9200


Linton Shafer Warfield & Garrett, P.A. are members of:
AICPA
MACPA
INPACT Americas
 
Congratulations on your new business!


Starting a new business off on the right foot is crucial to its success. This guide is designed to assist you with the complicated maze of forms and requirements for operating your business in Maryland. It assembles in one place, with the related filing instructions, all the forms a business must file. A section covering accounting and record keeping requirements is also included.

Linton Shafer Warfield & Garrett, CPAs, is committed to helping businesses succeed. We are a full-service firm offering accounting, auditing, tax and management advisory services to a wide range of clients. We take pride in our work and in our professional staff. We are pleased to provide you with this guide, and hope you will find it useful. If you have any questions, please feel free to contact one of our professionals (Contact LSWG).

This Guide is designed to present accurate information on business and tax matters. It is not intended to be used as a basis for specific action without obtaining professional advice.

Table of Contents

Checklist for the Business Start-Up

Personal Assessment

Planning

Establishment

Implementation

Registration Forms and Requirements

Incorporation in the State of Maryland

Combined Registration Application - State

SS-4 - Federal

Fictitious Name Statement (DBA)

Business Licenses

Sales Tax

Property Taxes

Workers' Compensation

New Hire Registry

Wage and Hour Laws

Continuing Reporting Forms

Payroll - Federal

Form 8109 - Federal Tax Deposit Coupon - Withheld Income and FICA Taxes

Form 8109 - Federal Tax Deposit of Unemployment Taxes

Form 941 - Employer's Quarterly Federal Tax Return

Form 940 - Employer's annual Federal Unemployment (FUTA) Tax Return

W-2 - Wage and Tax Statement

W-3 - Transmittal of Income and Tax Statements - Annual

W-4 - Employee Withholding Allowance Certificate

I-9 - Employment Eligibility

Payroll - State

DEED/OUI 15 - Employer's Quarterly Contribution Report

Form MW-506 - State Withholding Tax

MW-508 - Annual Return for Withholding Taxes

Form 1099 - Information Return

Corporation Income Tax Return - Federal

Form 1120 - U.S. Corporation Income Tax Return

FTD Form 8109 - Corporation Estimated Tax

Form 1120S - U.S. Income Tax Return for an S Corporation

Corporation Income Tax - Maryland

Maryland Form 500 - Corporation Income Tax Return

Maryland Form 510 - Pass Through Entity Income Tax Return

Partnership Tax Returns - Federal and Maryland

Form 1065 - U.S. Partnership Return of Income

Form 510 - Pass-Through Entity Income Tax Return

Proprietorship Taxes

Basic Business Records

Chart of Accounts

Monthly Reconciliations

How to Read Financial Statements

Cash Disbursement Procedures

Travel and Entertainment Deductions

Record Retention Requirements

Forms of Doing Business

Sole Proprietorship

Partnerships

Limited Liability Company

Corporation

Deciding Whether to Incorporate

Legal Forms of Organization (Comparison Chart)

Employee vs. Independent Contractor?

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