Forming an LLC in Massachusetts
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.
Steps to Form an LLC
- Name your LLC
- Choose a resident agent
- File the Certificate of Organization
- Create an operating agreement
- Get an EIN
- Open a bank account
Requirements for an LLC in Massachusetts
An operating agreement establishes members’ rights, responsibilities, and liabilities. It serves as a guideline for the LLC’s operations and provides a framework for resolving disputes. Creating an operating agreement tailored to your business needs and compliant with state laws is essential.
To form an LLC in Massachusetts, file a Certificate of Organization. This document contains the LLC’s name, address, general business character, plus the resident agent and managers. The filing fee is $500. You’ll also need to file an annual report, which costs $500.
Consider business structure and goals when starting an LLC. An LLC offers liability protection and flexibility but may not suit businesses wanting shareholders. Corporations allow shareholders but have more complex filing.
The main costs are the $500 Certificate of Organization and $500 annual report. Going through an online service can minimize costs. You’ll also need resident agent fees, business licenses, insurance, etc.
LLCs offer liability protection and tax advantages.