Massachusetts Limited Liability Company LLC Formation Package
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How to fill out Massachusetts Limited Liability Company LLC Formation Package?
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FAQ
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.
Choose a Name for Your LLC. Appoint a Registered Agent. File a Certificate of Organization. Prepare an Operating Agreement. Comply With Other Tax and Regulatory Requirements. File Annual Reports.
LLCs give business owners significantly greater federal income tax flexibility than a sole proprietorship, partnership and other popular forms of business organization. Make sure you have a financial plan in place for your small business.
Like a sole proprietorship, a single-member LLC is taxed as a disregarded entity by default. Because the government ignores disregarded entities, they undergo "pass-through taxation." This means all profits or losses from the business pass through the business directly to you, the business owner.
LLCs are formed by filing articles of organization with the secretary of state's office.Depending on the state, the filing fee varies, and the articles of organization may be referred to as a different name, like the certificate of formation.
By default, LLCs themselves do not pay income taxes, only their members do.Unlike the default pass-through tax situation, when an LLC elects to be taxed as a corporation, the company itself must file a separate tax return. The State of Massachusetts, like almost every other state, has a corporation income tax.
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.
The IRS treats one-member LLCs as sole proprietorships for tax purposes. This means that the LLC itself does not pay taxes and does not have to file a return with the IRS. As the sole owner of your LLC, you must report all profits (or losses) of the LLC on Schedule C and submit it with your 1040 tax return.
Business Name. Your LLC must have a name that is unique and is not the same or confusingly similar to another business. Registered Agent. Operating Agreement. Articles of Organization. Business Licenses and Permits. Statement of Information Form. Tax Forms.