Step-by-Step Guide
To start a Massachusetts LLC, first name your business and check name availability. Then, appoint a Massachusetts resident agent to receive legal documents. Next, file the Articles of Organization and create an operating agreement to guide business operations.
Costs and Considerations
The main cost is the $500 filing fee with the Secretary of the Commonwealth. Massachusetts also requires LLCs to file an annual report for an additional $500. Some LLCs may need to pay fees for business licenses, permits, insurance, and a resident agent.
Setting up an LLC in Massachusetts takes anywhere from a few hours to a few weeks. Filing the Certificate of Organization must include the LLC’s details, purpose, and manager and document executor names.
An operating agreement establishes members’ rights and serves as a guideline for operations. Creating one tailored to your needs is essential.
You’ll need an EIN to open accounts, file taxes, and conduct business. It takes 1-2 weeks to form an LLC in Massachusetts.
Consider structure and goals when starting an LLC. An LLC offers liability protection but may not suit businesses wanting shareholders. Corporations allow shareholders but have complex filings.
Required Steps and Documents
- Name your LLC
- Choose a resident agent
- File the Certificate of Organization
- Create an operating agreement
- Get an Employer Identification Number (EIN)
- Open a bank account
Most LLCs do not need a DBA. The LLC’s name can serve as your brand. However, you may register a DBA to conduct business under another name.
Consider using a service to streamline the process.