The cost of forming an LLC (Limited Liability Company) in Massachusetts is $500. The filing of the Articles of Organization is covered by this charge, which is paid to the Secretary of the Commonwealth of Massachusetts. Because they provide owners with personal liability protection and management and tax flexibility, LLCs are a popular choice for small enterprises.
As an alternative, it will cost you $275 to form a S Corporation in Massachusetts. This cost also includes submitting the articles of organization to the Commonwealth Secretary. Businesses that seek to avoid double taxation and still benefit from personal responsibility protection frequently choose S Corporations.
All businesses operating in Massachusetts must get a business license from their neighborhood city or town government, regardless of the business structure. In Massachusetts, the price of a business license varies according on the city or town and the kind of enterprise being run. A business license typically costs between $50 and $300.
Businesses owned and run by a single individual, known as a sole proprietorship, are exempt from the state of Massachusetts’ registration requirements. They could still need to apply for a company license, though, and pay any expenses that go along with it.
In conclusion, the price of forming a business in Massachusetts varies according to the kind of entity it is and the related fees. Although S Corporations and LLCs have different registration fees, both provide owners with personal liability protection. All companies doing business in Massachusetts must have a business license, and sole proprietorships may also have to pay a fee to get one. Regardless of the kind of company entity, it is crucial to research, comprehend, and pay for the registration procedure in order to comply with state regulations.