Massachusetts Corporation Establishment and Fees
A Massachusetts corporation designates ownership through shareholders. Shareholders select an incorporator to create the corporation.
There are two primary fees for establishing a corporation in Massachusetts.
- The first is to file the corporation’s articles of incorporation for a $275 filing fee.
- The other cost comes if issuing over 275,000 stock shares, which leads to a $100 fee per 100,000 shares over that amount.
Corporate Maintenance and Business Structure
To form a corporation in Massachusetts, articles of incorporation must be filed with the Secretary of State.
When considering business structure in Massachusetts, LLCs and S-corps have relative advantages.
Business Plan and Funding
With a strong business plan, funding efforts or plans to secure investments can help bring a Massachusetts corporation to life.
Qualifying a Foreign Corporation
The process of qualifying a foreign corporation in Massachusetts is similar to forming a domestic one. Specific requirements must be met to qualify. The officers and directors have the same roles.
Directors and Officers in a Massachusetts Corporation
Massachusetts law requires at least three directors for a corporation.
Articles must list initial directors and officers, fiscal year end, business type, and principal office address.
Directors should be licensed professionals who understand their roles and responsibilities in a professional corporation.
Requirements for a Massachusetts Corporation
An EIN is required for corporations with employees. Business licenses required vary by county and municipality. State agency approval may be required before filing a professional corporation.