Companies must submit an annual report to the state of Massachusetts each year. The annual report must be submitted by the 15th day of the third month following the conclusion of the business’ fiscal year. The annual report must be submitted by March 15 of the following year, for instance, if a company’s fiscal year ends on December 31. Punishments and the potential loss of the company’s ability to conduct business in the state may follow late submission of the annual report.
Depending on the sort of business and the method utilized to incorporate, the time it takes to do so in Massachusetts can range from one day to several weeks. The process of online business incorporation can be finished in as little as one day. However, the process may take several weeks if you opt to incorporate by mail or in person.
People sometimes inquire about how to obtain a Massachusetts Certificate of Good Standing. An official document known as a Certificate of Good Standing attests to the fact that a corporation or LLC is in good standing with the Commonwealth of Massachusetts. You must make a request for a Certificate of Good Standing with the Massachusetts Secretary of the Commonwealth. The request can be submitted in person, via mail, or online. $20 is the cost of a Certificate of Good Standing.
Professional Limited Liability Companies (PLLCs) are not recognized in the state of Massachusetts. The formation of a professional corporation or association is an option for experts like lawyers and accountants. These are made expressly for licensed professionals, yet they resemble conventional corporations or LLCs. In order to establish a professional company or association in Massachusetts, you must submit articles of formation to the Commonwealth’s Secretary and get any required professional licenses.