A corporation in Massachusetts is required to have a minimum of three officials, including a president, treasurer, and clerk. The president is in charge of the corporation’s overall management, and the treasurer is in charge of keeping track of its money and accounts. The corporation’s records and meeting minutes must be kept up with by the clerk.
A corporation may also have other officers, such as a vice president, a secretary, or an assistant treasurer, in addition to these officers. The corporation’s board of directors may appoint these optional officers if needed. The distinction between an LLC and a DBA is explained here.
A DBA, or “doing business as,” is a business name that differs from the owner’s given name or the corporation’s registered name. A trade name, assumed name, or fictitious name are other terms for a DBA. A DBA does not establish the owner as a different legal entity, and the owner is still personally responsible for any debts or legal problems arising from the firm.
Limited liability companies, or LLCs, are distinct legal entities from their owners, also referred to as members. Members of an LLC are protected from personal liability, which means that the business’s debts and legal troubles normally do not have an impact on their personal assets.
A DBA certificate must be submitted to the Secretary of State’s office in Massachusetts in order to register a trade name or fake name for a company. If a business owner want to use a name for their company that is distinct from their given name or the name under which their corporation is registered, they must obtain a DBA certificate. Every four years, the DBA certificate needs to be renewed.
In conclusion, it is critical to have the appropriate executives in place when forming a corporation in Massachusetts so that the company is operated effectively and in accordance with state law. An LLC is a distinct legal entity that offers personal liability protection for its members, whereas a DBA is a trading name that is different from the owner’s legal name or the registered name of the corporation. If a business owner want to use a name for their company that is distinct from their given name or the name under which their corporation is registered, they must obtain a DBA certificate in Massachusetts.