Why Incorporate a Business in Massachusetts?
Massachusetts is a great state to incorporate a business. If Massachusetts is where you live, where your family lives, and where your business is located, it often makes sense to incorporate in the same state – although doing so is often not your only option.
How Do I Incorporate a Business in Massachusetts?
Getting the Inc. after your business name is a fairly involved process. First, you must choose a name, one which is different from those that are already existing businesses in Massachusetts. Next, you will file articles of incorporation with the Secretary of State’s office in Massachusetts. These documents include explanations of the purpose of the business, types of stock shares the company issues, the ability to transfer these stock shares, and many other details about your new business.
Once the name of your business is registered with the State of Massachusetts and articles of organization are filed, you will want to choose a registered agent to handle service of process (a person or organization which will serve as a go-between if your business is involved in a lawsuit). You will also need to develop bylaws for your new corporation, hold your first meeting of the board of directors and document that meeting, as well as issue stock.
There are also tax considerations that an accountant can assist with, and the need to comply with annual reporting requirements of the Secretary of the State.
An attorney with experience in business formation can be of great assistance in establishing the corporate structure necessary to limit personal liability. Moreover, attorney’s are trained in understanding the many aspects of liability that business owner’s face and can assist you in developing business habits that demonstrate the soundness of your new corporation.
For more information see the following articles:
“Forming an LLC…”
“LLC for Your New Business?“
Read an updated version of this article here.
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