How Many Llcs Are Registered In Massachusetts

Hither are the steps yous need to take to starting time a limited liability visitor (LLC) in Massachusetts.

Here are the steps you demand to take to grade an LLC in Massachusetts. For more data on how to form an LLC in any state, see Nolo'south article How to Class an LLC.

i. Cull a Name for Your LLC

Nether Massachusetts law, an LLC proper name must contain the words limited liability visitor," "limited visitor," or the abbreviations "L.L.C.," "50.C.," "LLC," or "LC." The name may comprise the name of a member or director of the LLC.

Your LLC'southward proper noun cannot exist deceptively similar to the names of other business entities already on file with the Secretary of the Commonwealth Corporations Sectionalization. Names may be checked for availability by searching the Massachusetts name database. You may reserve a name for 60 days by filing an Application for Reservation of Name. The filing fee is $thirty. The reservation tin exist extended by an additional 60 days past paying an additional $30 fee before the initial lx day period expires. The application must be filed by postal service with the Secretary of The Commonwealth Corporations Partitioning.

2. Engage a Registered Agent

Every Massachusetts LLC must have an agent for service of process in the state. This is an private or business entity that agrees to accept legal papers on the LLC'southward behalf if it is sued. A registered amanuensis may be an individual who resides in Massachusetts or a domestic or foreign corporation authorized to do business in Massachusetts. The registered agent must have a physical street address in Massachusetts.

3. File a Certificate of Organization

A Massachusetts LLC is created past filing a Limited Liability Visitor Document of Organization with the Secretary of the Commonwealth Corporations Division. The document must include:

the LLC'due south federal (employer) identification number (if any)
the LLC's name and street address in Massachusetts
the general graphic symbol of the LLC's business
the date of the LLC'south dissolution, if any
the proper name, address, and signature of the LLC'south registered agent
the names and addresses of each manager, if any: and
the names and address of whatever people authorized to execute documents for the LLC--there must be at least one such person if the LLC has no manager.

The filing fee is $520 for online filing; $500 for newspaper filing. The articles may be filed online or past postal service.

All of the paperwork and procedural steps to offset a express liability company can be done online using Nolo'south Online LLC Germination service.

four. Prepare an Operating Understanding

An LLC operating agreement is not required in Massachusetts, simply is highly advisable. This is an internal document that establishes how your LLC volition be run. Information technology is not filed with the state. Information technology sets out the rights and responsibilities of the members and managers, including how the LLC volition be managed. Information technology can as well help preserve your express liability by showing that your LLC is truly a divide business organisation entity. In the absence of an operating agreement, state LLC police force will govern how your LLC operates.

The operating agreement should include the following:

the members' percentage interests in the LLC
the members' rights and responsibilities
the members' voting powers
how profits and losses will be allocated
rules for holding meetings and taking votes, and
buyout, or buy-sell, provisions, which determine what happens when a member wants to sell his or her involvement, dies, or becomes disabled.

For help creating an LLC operating agreement, meet Course Your Own Limited Liability Company, by Anthony Mancuso (Nolo).

v. Comply With Other Tax and Regulatory Requirements

Additional revenue enhancement and regulatory requirements may employ to your LLC. These may include:

EIN: If your LLC has more one fellow member, information technology must obtain its ain IRS Employer Identification Number (EIN), even if it has no employees. If you form a ane-member LLC, you must obtain an EIN for information technology only if it will have employees or you elect to accept it taxed equally a corporation instead of a sole proprietorship (disregarded entity). You may obtain an EIN by completing an online application on the IRS website. There is no filing fee.

Business organization Licenses: Depending on its blazon of business and where information technology is located, your LLC may demand to obtain other local and state business licenses.

Section of Revenue: In some cases, for example if you accept employees or will be selling goods and collecting sales revenue enhancement, you'll need to register with the Massachusetts Department of Revenue (DOR). You can register online using the DOR's MassTax Connect. For more than information on land LLC tax registration, encounter Nolo's article Massachusetts LLC Annual Filing Requirements.

six. File Annual Reports

All LLCs doing business in Massachusetts must file an annual study with the Secretary of the Republic Corporations Sectionalization. Domestic LLCs file a Express Liability Annual Study. Foreign LLCs file a Foreign Express Liability Almanac Report. The report must contain the same data as the certificate of organisation.

The written report must be filed past the LLC'south anniversary date. The report can be filed online or by mail. The filing fee is $500.