A business entity that has been formed and registered in accordance with Massachusetts law is known as a Massachusetts corporation. It is a separate and distinct legal entity from its owners, who are referred to as shareholders. As a result, the corporation is able to sign contracts, possess property, and carry out business operations under its own name.
A Massachusetts corporation may only be formed once certain conditions are satisfied. The corporation must first select a name that is not being used in Massachusetts by another company. The corporation must next submit articles of incorporation, which contain details on the name and goals of the business as well as the names and addresses of its directors and officials, to the Secretary of State’s office.
A Massachusetts corporation must file articles of incorporation as well as several other licenses and permissions before conducting business in the state. A business license, tax identification number, and other required licenses for your particular industry may be among them.
Several elements, including the complexity of the company and the level of legal support needed, might affect the cost of forming a corporation in Massachusetts. Articles of incorporation filing costs $275, plus possible extra charges for name reservations and accelerated processing.
When a corporation is formed, its main goal is to carry on business and make money for its owners. A corporation provides limited liability protection for its shareholders, which means they are not personally liable for the corporation’s debts and obligations, in contrast to a sole proprietorship or partnership.
A corporation that is taxed differently from a typical corporation is a S corporation. An S corporation can be established in Massachusetts for the same price as a regular corporation. To be eligible for S corporation status, a company must fulfill a number of conditions, including having no more than 100 shareholders and issuing just one kind of stock.
To sum up, a Massachusetts corporation is a legal body that provides its stockholders with limited liability protection and that must abide by particular filing and licensing requirements in order to conduct business in the state. Although the price to form a corporation can differ, it usually includes filing fees and legal costs. The cost to establish both a standard corporation and a S corporation in Massachusetts is the same, despite the fact that they have different tax consequences.
You can conduct an online search on the Corporations Division page of the Massachusetts Secretary of State to see who owns a company there. You can use the website to search for companies by name and examine their public records, which contain details on the owners and officers of the organization. Utilizing the internet database of the Massachusetts Department of Revenue, which offers details on companies registered to collect state taxes, is an additional choice.
The ownership of an LLC is not needed to be disclosed in the articles of organization or any other public papers in Massachusetts, nor is it a matter of public record. To check whether they can offer any information or documents relating to the formation or registration of the LLC, you can try contacting the Corporations Division of the Secretary of the Commonwealth. Another choice is to attempt getting in touch with the LLC directly and asking for details on ownership or management.