Starting a business in Maryland as a sole proprietor is a straightforward process, appealing to individuals who want to operate a business under their own name or a trade name without forming a separate legal entity like an LLC or corporation. This structure is the simplest form of business ownership, where the business is owned and run by one individual, and there is no legal distinction between the owner and the business. This means the owner is personally responsible for all business debts and liabilities. While the initial setup is less complex than forming an LLC or corporation, understanding the specific requirements in Maryland is crucial. This guide will walk you through the necessary steps, from understanding the implications of sole proprietorship to obtaining any required licenses and permits. We’ll cover everything you need to know to legally operate your sole proprietorship in the Old Line State, ensuring you're compliant with state and federal regulations.
Start your formation with Lovie — $29/month, everything included.