If you are considering opening an LLC in Massachusetts, there are many options to choose from. The first thing you will need to do is determine which type of business you want to open. There are a number of different open business organizations available in the state, including sole proprietorships, partnerships, LLCs, and corporations. For your own personal needs, you should research each one and consult with an attorney before making any decisions. Here is a brief overview of the different options that are available:
Sole proprietorships are considered most traditional ways to open an LLC in Massachusetts. In order to qualify for the LLC exemption, your business must have been in operation for a specific period of time and you will be the sole owner. To apply for an LLC exemption, you will need to complete a standard form that the secretary of state can provide you. You will also need to provide the forms to the secretary of state as proof that your business meets all the necessary criteria for an exemption. If you are a new owner, you will not need a liability annual report.
A Massachusetts Limited Liability Company is also known as a corporation. Unlike a sole proprietorship, a Massachusetts Limited Liability Company has some added benefits. First, the tax rules for a massachusetts llc are quite similar to those of a corporation. Secondly, unlike a sole proprietorship, there is a requirement that the owners of a massachusetts llc have to file a yearly return with the secretary of state. Lastly, unlike a corporation, the members of a limited liability company are considered publicly responsible for their businesses.
Massachusetts Limited Liability Company Certificate: Steps to Get Registered
An Operating Agreement is absolutely necessary for any business entity. As with any other legal document, an operating agreement for a Massachusetts Limited Liability Company must contain the names of the LLC owners, the dates the LLC was registered, the management of the LLC, the duties of each member, and the powers of each member is allowed to have. It is important that this document also includes any stipulations that must be met in order to make the business entity legally operational. A new LLC in Massachusetts must contain all of the information that is filed with the state. An existing Massachusetts LLC can choose to add in additional operating agreements as the business grows.
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A registered agent is an individual who is responsible for accepting legal documents for a Massachusetts LLC and for forwarding them to the attorney general of the state. All of the business entity paperwork must be sent to the registered agent who lives in the same state as the company. The registered agent may work for the entire company or he may just handle one or two locations. All of the paperwork that the company sends to the secretary of state must be sent to the registered agent. In some cases, the company may request that an additional agent is added to the LLC, especially if the initial agent is unable to handle all of the paperwork.
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The name must contain specific references to Massage Therapies, a product or service that is offered by the LLC. The name cannot be suggestive of the LLC's location because that could open the door to someone opening up another business in the same area. Also, the name cannot contain specific language about how the LLC is regulated or what the company's rules are. If the name includes these phrases, it will have to change when the LLC becomes an active company in Massachusetts.
The last piece of paperwork that must be sent to the secretary of the Massachusetts Liquor Control Commission is the Massachusetts limited liability company certificate. This documentation is not required by law, but the Massachusetts Liquor Control Commission recommends that all new LLCs file a certificate of record before they can file their Articles of Organization. The certificate must include the LLC's name, address, and its date of dissolution. The name cannot contain specific language that describes the LLC's rules or regulations.
Filing your Articles of Organization does not end there. The next step is to provide a printed identification number to the Secretary of the Massachusetts Liquor Control Commission along with the other documentation that you have provided. The identification number is referred to as the 'registry card' and serves as proof that you are the person that you say you are. Lastly, all of the paperwork and documents must be received, signed, and delivered by the required date on the above forms by mail.
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