Costs and Requirements
The main cost to start an LLC in Massachusetts 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 also need to pay fees for business licenses, permits, insurance, and a resident agent.
Steps to Form an LLC
To start a Massachusetts LLC, undertake the following steps:
- Name your business and check name availability.
- Appoint a Massachusetts resident agent to receive legal documents.
- File the Articles of Organization.
- Create an operating agreement to guide business operations.
- Obtain licenses, permits, an EIN, and open business bank accounts.
Process Timeline
Setting up an LLC in Massachusetts takes anywhere from a few hours to a few weeks depending on complexity. Filing the Certificate of Organization is crucial and must include the LLC’s identification details, general purpose, and manager and document executor names and addresses.
Understanding how to form an LLC in Massachusetts by following state regulations is essential. The process may seem complex but with compliance, you can easily set up your Massachusetts LLC in 2024 and onto success.