LLC price in massachusetts health [With Pictures]

Last updated : Sept 21, 2022

How much is LLC license for Ma?

The costs to start an LLC in Massachusetts are significant. LLCs pay a $500 formation fee and $500 annual report fee. Most corporations pay only $275 to get started then $125 per year. Massachusetts registered agent and resident agent are synonymous.

How much does an LLC cost?

You can file the LLC filing documents online, by mail, or in-person when visiting the local SOS office. The filing costs usually vary from $50 to $150 which is a single-time fee. If you plan to form your company in another state, then you might have to provide additional documentation and pay a higher formation fee.

How much does a Massachusetts business license cost?

The cost of a business license in Massachusetts will depend on your business type and the required licenses it needs. There is no cost for a sales tax registration, but you might have to spend between $50 to $350 on professional licenses.

How much does it cost to renew LLC in Massachusetts?

The annual report must be filed each year on or before the anniversary date of the filing of the original certificate of organization. The annual report filing fee for a Massachusetts LLC is $500.

How do I start an LLC in Massachusetts?

1. Choose a Name for Your LLC.
2. Appoint a Registered Agent.
3. File a Certificate of Organization.
4. Prepare an Operating Agreement.
5. Comply With Other Tax and Regulatory Requirements.
6. File Annual Reports.

What are the benefits of an LLC in Massachusetts?

Benefits of starting a Massachusetts LLC: Limits and separates your personal liability from your business liability and debts. Simple tax filing and potential advantages for tax treatment. Strong support for small local businesses. Numerous business tax credits.

Do I have to pay a monthly fee for an LLC?

A one-time fee paid to the state is called the filing fee of LLC. This is not a monthly fee. No state has a monthly LLC fee system.

Which state has the lowest LLC tax rate?

Alaska. Alaska earns credit for its lack of an individual income tax and a state sales tax.

What are the benefits of an LLC?

• Personal liability protection. One of the primary benefits of forming an LLC is that it separates your personal assets from the business.
• Inexpensive and relatively easy to form.
• Flexible taxation.
• Ownership and management flexibility.
• Appropriate for individuals.

How long does it take to get an LLC in Massachusetts?

How long does it take to form an LLC in Massachusetts? Filing the Articles of Organization can take 4 hours online post-payment, or 4 to 5 business days by mail. Expedited filings are also available.

How do I form a single member LLC in Massachusetts?

1. Name Your SMLLC.
2. File a Certificate of Organization.
3. Prepare an Operating Agreement.
4. Do You Need an EIN?
5. Register With the Department of Revenue.
6. Obtain Business Licenses.
7. File Your Annual Report.

How much does it cost to start a corporation in Massachusetts?

How much does it cost to form a corporation in Massachusetts? You can register your business name with the Massachusetts Secretary of the Commonwealth Corporations Division for $30. To file your Articles of Incorporation, the Massachusetts Secretary of the Commonwealth Corporations Division charges a $275 filing fee.

Do LLC pay taxes in Massachusetts?

LLCs and LLPs are classified for Massachusetts tax purposes the same way they are for federal income tax purposes. A single-member LLC will be disregarded as an entity separate from its owner for Massachusetts income tax purposes, if it is disregarded for federal tax purposes.

Do I need an LLC?

Who Should Form an LLC? Any person starting a business, or currently running a business as a sole proprietor, should consider forming an LLC. This is especially true if you're concerned with limiting your personal legal liability as much as possible. LLCs can be used to own and run almost any type of business.

How do I close an LLC in Massachusetts?

Corporations must complete a Form 966, Corporate Dissolution or Liquidation, and file it with the final corporate return. Partnerships must file the final Form 1065 and Schedule K-1s. Sole proprietors stop filing the Schedule C with the individual income tax return.

Do LLCs pay taxes?

All of the profits and losses of the LLC "pass through" the business to the LLC owners (called members), who report this information on their personal tax returns. The LLC itself does not pay federal income taxes, although some states impose an annual tax on LLCs.

What is the downside of an LLC?

Disadvantages of creating an LLC Cost: An LLC usually costs more to form and maintain than a sole proprietorship or general partnership. States charge an initial formation fee. Many states also impose ongoing fees, such as annual report and/or franchise tax fees. Check with your Secretary of State's office.

What is a good name for an LLC?

• Make It Legal. The most important thing when you're choosing an LLC name is to make sure it's legal.
• Make It Memorable. You want your LLC name to be something people can remember.
• Make It Meaningful.
• Make It Original.
• Make It Distinctive.
• Make It Domain Name Ready.
• Make It Social Media Friendly.

How do you start a LLC company?

1. Decide on a Business Name.
2. Designate a Registered Agent.
3. Get a Copy of Your State's LLC Article of Organization Form.
4. Prepare the LLC Article of Organization Form.
5. File the Articles of Organization.
6. Create an Operating Agreement.
7. Keep Your LLC Active.

Can I be my own registered agent in Massachusetts?

Can I Be My Own Registered Agent In Massachusetts? Yes, you can be your own registered agent in Massachusetts. However, after considering the registered agent requirements most business owners elect to hire a registered agent service instead.

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Thanks for your comment Domingo You, have a nice day.
- German Kast, Staff Member

hey my name is eric in today's video we're talking about starting an llc in massachusetts so in this video i'm not only going to show you three different ways you can do this but also three things that you should be aware of that may create potential cracks in your llc now if you're not familiar with the terms such as piercing the corporate veil registered agents or in your case in massachusetts it's called the resident agent or the term co-mingling funds you're definitely going to want to watch this video because i'm not only going to show you how you can set up an llc but make sure that it's actually protected and doing what it's supposed to do for you and your business now the first screen that we're on here comes from nolo.com this is just a very reputable website written by attorneys and you can see that it's talking about the current filing fee of a certificate of organization so setting up for an llc in massachusetts is 500 by mail and 520 for an online filing so it is an extra 20 to file online which is ridiculous because it should cost less you would think but i just wanted you to know that that fee no matter what route you go to set up your llc in massachusetts you're going to pay that fee so if you do it yourself through their state website through an online legal tool or even if you go through an attorney they may bake that fee into their cost structure but you're going to pay that 500 now if you want to do it yourself going through the state website this is the url that you would do that through uh know that all resources that i'm mentioning in this video are in the description below so you can go to the description and click through to get any of these resources if any of them are paid links i will let you know that in advance but my goal with this video is not to steer you necessarily in one direction or the other but to give you all the information so that you can make the best decision for yourself now if you're looking at this the two methods you can go here is file online which in my opinion is one of the most difficult states to do this within i've never come across this before but you can see here it says if you don't have a cid and pin please contact our office with their email address so basically you have to email their office then get a customer id number and pin number and then be able to go through the process and it is going to cost you an extra 20 bucks if you go online so some people may be deterred by that especially because it's talking about like you need a browser capable of 128-bit encryption blah blah there's a lot of hoops to jump through so some people may want to go the route of the pdf here now the interesting thing though about this pdf is it's very vague with the amount of information and guidance it gives you so if we scroll down and we look at section 5 here it says the name and street address of the resident agent in the commonwealth so i don't like the fact that they just kind of just gloss over this and say like who is your resident agent and the reason for that is if you don't have a proper resident agent set up for your business and i'll explain what all that is in a minute i can create what i was talking about earlier is cracks in your llc so this might be a good time to explain what an llc is and what it is not you probably understand but sometimes people get a little bit confused some people think they're going to set up an llc for tax purposes there's no tax advantage for setting up an llc the advantage of setting up an llc is limiting your liability so when you have your business you have your business assets and then you also have your personal assets so in the business you know it could be the office space the income that you're generating etc but then on your personal side it could be your personal home personal bank account cars all those things so when you set up an llc what you're doing is you're drawing a division between your personal and business assets now if you were to be sued for some reason the attorney who is suing you is going to try to find cracks in your llc and you might remember earlier i talked about a term called piercing the corporate veil so that's like the technical legal jargon but basically what they're trying to do is find a crack in your llc and one of the ways they may be able to do that is if you don't have a proper resident agent set up for your llc and one of the things i don't like by going through the state website is they just kind of really gloss over things they just say you know what's the name street address of the resident agent in the commonwealth to me that's kind of doing a disservice to the person getting set up because it's not explaining what the resident agent is so why don't we take a look at what a registered agent is so if we go to this uh this blog post here from inkfile which is an online legal tool that you can set up within llc and we scroll down a little bit this is really helpful here so down here it says are there other names for a registered agent so it's known by different names in different states in massachusetts as we saw it is called a resident agent that you can see right here so if we go back here you can see that that is mentioned as well here some states call it a statutory agent agent of for services of processor commercial regis registered agent so what does that registered agent actually do in your case resident agent official letters and correspondence from your secretary of state so any kind of information that's coming through they kind of act as a third-party go-between between you and the state service of process notices so if your corporation or llc is sued or needs to appear in court for example so if an attorney is suing your company because their client slipped and fell at your business or fill in the blank the million ways you can get sued uh they are going to make sure that you're showing up and getting that documentation uh the third uh section here official federal government correspondents information notifications fourth bullet point tax forms and requests for payment and fifth bullet point request to complete permits company filings or reports so what that registered agent is doing is they're just making sure that you're compliant and you know crossing your t's dotting your eyes for your llc so the reason that's important too is you want a registered agent that is within the state lines so in your case you want to make sure that that resident agent i should be saying is in your state and i really just don't like the fact that they just kind of leave this very vague right so a lot of people they may end up like filling out section five here and saying you know it's my cousin sarah she's my resident agent because i'm gonna save a few dollars and i'm gonna put her information in here but she actually doesn't know what she's doing as resident agent maybe she's not forwarding you the correspondence or making sure that you're you know keeping up on your annual reports and when that happens what can happen is you have a crack in your llc so then when that attorney comes after your business what they'r

Thanks Chrissy your participation is very much appreciated
- German Kast

About the author

German Kast

I've studied gene-culture coevolution at Edinboro University of Pennsylvania in Edinboro and I am an expert in fan studies. I usually feel optimistic. My previous job was art, drama, and music professor I held this position for 21 years, I love talking about record collecting and tennis polo. Huge fan of Prince I practice cycling: track and collect steiff teddy bears.