Massachusetts prohibits the use of a name if another corporation is already using it or one that is very similar.Here are some things to keep in mind when choosing your name: The first step to registering a business in Massachusetts is to select an original name not already in use by another business in the state. We can also take care of many of your company's follow-up needs, including annual report preparation and filing.īelow is an overview of the incorporation process in Massachusetts: Select a Business Name We'll research the availability of your company name, help you prepare and file your Articles of Organization with the Corporations Division of the Secretary of the Commonwealth, and expedite fee payment. Contact us today to learn more.If you decide on incorporating in Massachusetts, will take care of all the details. ![]() Whether it’s Real Estate, Business, or Family Law, we have experts ready to handle the hard work to make life easier for you. A Team Dedicated To YouĭaMore Law is here to help you, your family, and all aspects of the community. Essentially, they protect liability status. “Keeping minutes” refers to creating records for your corporation’s business decisions. These prove to banks that your corporation is legitimate. Bylaws are your corporation’s rules, responsibilities, share info, and more. This mostly comes down to adopting bylaws and keeping minutes. You will need it to open a corporate bank account. Essentially, you can think of this as a social security number for your corporation. Employer Identification Numberīefore you start your corporation, you must apply to the IRS for an Employer Identification Number or EIN. Finally, it cannot be deceptive in any way, such as advertising for goods or services you do not offer. Also, it must be distinct from all other corporations. Your corporation’s name must end with “Company,” “Incorporated,” “Corporation,” “Limited,” or an abbreviation of one of these terms. Next, you are onto choosing a name that meets the legal requirements. If you do not file this report, you are in danger of being unable to do business in Massachusetts. Moreover, an annual report must be filed with the Massachusetts Secretary of State two and a half months after the close of your fiscal year. Finally, you will need to include the street address of your corporation. You will also need to include the par value of these shares, or include a statement clarifying there is none. Then, include the number of shares that will be issued. Next, you will be asked to provide a brief description of your business. Moreover, you will need to include several other bits of information for your Articles of Organization. This needs to be a physical mailing address, not just a post office box, in order to receive these documents. When forming your corporation, you are required to designate a “registered agent.” Essentially, this is a person or business who will receive important tax, government, and legal documents. ![]() Fulfill Articles Of Organization Requirements Additionally, Massachusetts law states that the names and addresses of officers and directors must be listed in the Articles Of Organization. Oftentimes, the number of directors and shareholders is the same. If there are three or more shareholders, there must also be three or more directors. Primarily, Massachusetts personnel requirements focus on directors and officer positions. Meet Personnel RequirementsĪnother one of the steps to forming a Massachusetts corporation is to meet personnel requirements. The S-Corp usually does not have to pay federal corporate income taxes. A C-Corp is taxed separately from its shareholders, whereas an S-Corp is treated much like a partnership in its taxes. However, the main difference lies in ownership rules. ![]() These two are quite similar in terms of liability, management, and structure. Decide What Type Of Corporation To Formįirst off, you will need to choose between forming a Massachusetts S-Corp or C-Corp. With that said, here are the steps to forming a Massachusetts corporation. ![]() However, there are a number of requirements you need to be aware of before getting started. Creating a Massachusetts corporation can be a great way to operate a business in your area. A corporation is a legal entity created by individuals, stockholders, or shareholders – usually with the intention of operating for profit.
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