Sometimes there is no "one size fits all" solution available for small business settlements. Therefore, with the TTS we can provide the following services at the prices listed. We tried to avoid hourly rates where we could avoid them because hourly rates make the final cost unpredictable. Nevertheless when projects take longer than expected because of circumstances beyond our control, then hourly rates are a necessary component of a successful transaction. That’s why some of the services might be blended flat fee/hourly rate.
SERVICE |
FEE |
EXPENSES |
Form a one share holder Maryland
corporation, employee identification number
must be obtained from the IRS by person
who forms the corporation |
$250.00 |
$170.00 |
Form a one member Maryland LLC
employee identification number must be
obtained from the IRS by person who forms
the LLC |
$250.00 |
$150.00 |
Obtain a Maryland trade name |
$125.00 |
$75.00 |
Write a promissory note |
$250.00 |
none |
Write a security agreement |
$250.00 |
varies3 |
Co-ordinate and negotiate with the landlord to
assign/terminate or write a new lease |
$500.00 up to two hours, after two
hours, fees will be billed at $250.00 per
hour in increments of one tenth of an
hour
|
varies4 |
Co-ordinate with franchisor to transfer and or
terminate a franchise agreement |
$500.00 up to two hours, after two
hours, fees will be billed at $250.00 per
hour in increments of one tenth of an
hour |
varies5 |
Escrow services for earnest money deposit
only, we will hold the earnest money deposit
and disburse it at settlement accordingly, if
the transaction does not settle or if the transaction is cancelled by either party, the fee still
applies |
$500.00 up to the date of settlement,
escrow services after settlement must
be handled by another escrow agent |
none |
Complete and file application for liquor/beer
and wine license transfer |
$500.00 |
varies6 |
1 These expenses are charged by the Maryland State Department of Assessments and Taxation
(SDAT) where the corporate/LLC documents are recorded.
2 These expenses are charged by the SDAT where the trade name is recorded.
3 There is a $75.00 recordation fee at the SDAT, if you record the note and security agreement
elsewhere such as a land records office, then the fee will differ from county to county
4 Many landlords charge non-refundable and/or legal fees to consider changes to existing leases,
these fees vary greatly and are usually, but not always written into the terms of the lease.
5 Franchise agreement termination and transfer fees, like leases, differ greatly from franchisor to
franchisor, these terms will be in the Uniform Franchise Offering Circular.
6 Liquor/beer and wine license regulations and fees differ from county to county. |
