Learn more about professional liability insurance. It’s most common in the “professional” space where businesses offer services or advice to other businesses or consumers. Professional Liability Insurance – Protects against claims of inaccurate or negligent work.Learn more about general liability insurance. This is the most common of all business insurance policies. General liability insurance – Protects against claims of personal injury, physical injury, property damage, and more.Having the proper insurance coverage can potentially save your entire business if there is a loss, accident, or lawsuit.Ī few of the most common business insurance policies include: It’s an extremely simple to use system, creates great business websites, and only costs about $15/month. We advise small business owners to use the GoDaddy Website Builder. The annual report is due by March 15 or 2.5 months after the end of the fiscal year and is required for all Massachusetts LLCs. Annual LLC Fee MassachusettsĮach year, your Massachusetts LLC must submit an annual report via Massachusetts’ Corporations Online Filing System. There are a few things you need to address to keep your LLC in good standing with the state year after year. Massachusetts LLC Cost and Fees Over Time The fee for requesting a certificate of status is $25. Banks and other lenders often require this document. Certificate of Status – A certificate of status verifies that your business is properly registered and legally authorized to conduct business in Massachusetts.The fee for requesting a certified copy is $12 by mail and $15 online or for expedited processing. Certified Document Copies – Getting certified copies of your Massachusetts business documents that are already on file with the state validate that the documents are true and correct are available.Expedited Massachusetts LLC Filing – Massachusetts offers expedited filing of your Certificate of Organization for an additional $15 fee per document.Doing Business As (DBA) Name – If you want to operate your business under a different name than your LLC’s, you will need to file a DBA or business certificate, which requires completion of a business certificate form.The name reservation fee is $30 and is good for 60 days. Reserve a Name for Your LLC – When looking to choose your LLC name in Massachusetts, you will need to make sure it is original by performing a business entity name search.Optional Massachusetts LLC Formation CostsĪlong with the fees associated with forming an LLC, there are several optional LLC formation costs that you may encounter. Using a free operating agreement template or document builder, that means your total cost would be $0. You don’t need to file this document with the Massachusetts Secretary of the Commonwealth. For single member LLCs and simple multi-member LLCs, most people choose to create the document themselves. The costs associated with the operating agreement come in the drafting of the document. Massachusetts LLC Operating AgreementĪn operating agreement defines the roles and responsibilities of the members or managers in your LLC and will help prevent and solve any business disputes that may arise later on. If you haven’t yet formed your LLC, we recommend using Northwest Registered Agent to form, as you will receive one year of registered agent services for free with a $29 formation. Generally, these service fees start around $29 and increase depending on additional services you purchase. If you choose to use an LLC formation service, you will pay the $500 state fee on top of their service fee. You will commonly see this fee referred to as the “ state fee” or “filing fee.” The filing fee for the Certificate of Organization is $500. To form an LLC, you must file a Certificate of Organization with the Massachusetts Secretary of the Commonwealth. These include the filing fee, LLC formation service cost, operating agreement draft, and registered agent costs. When forming your LLC, there are a few different costs that you may incur. In this guide, we break down the costs associated with forming your LLC, from the Massachusetts LLC filing fee to LLC upkeep prices and other business expenses. So, how much does an LLC cost in Massachusetts? In addition to formation and ongoing costs, there will be business expenses like using a registered agent service, building a website, getting business insurance, and so on. When you form your LLC in Massachusetts, you’ll have to pay certain costs to officially register your business with the state.
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