How to start an llc in mass

What is an LLC? Do I want one for my small company? Do I need an LLC in my particular state? Do I want an LLC if I’m using my home state as the filing entity? All these questions will be answered here and much more.

First, we will explore what an LLC is. An LLC is a Limited Liability Company registered with the appropriate state. It allows for the sharing of a single type of tax liability (the tax liability on the shares of stock in the industry ) between the company and the owner (the person who started the LLC). If you are submitting a Change of Address, this may change your business’ LLC status.

Do I want an LLC for my organization? If your company grows significantly and your daily work requires a lot of driving, you might wish to consider an LLC. An LLC will help protect your personal assets while also protecting your business assets from those of your competition. If you file a Change of Address, your address and contact information will become the liability of your LLC, not your private residence.

Do I need an LLC if my state does not require one? Most states will not require an LLC. Your accountant will be able to assist you in determining if you want one based on the type of business you’ve got and your individual state’s laws. Some states allow for one or partial incorporation of a business. Other states require that you form an actual LLC.

Do I need a Registered Agent for my LLC? An LLC is also another entity from your personal residence. In order for your LLC to have its own separate legal and fiscal records, you’ll have to appoint a Registered Agent. Sometimes, it’s the Registered Agent that will be responsible for the maintenance and filing of all the LLC’s documents. In other nations, the Secretary of State will manage these filings.

Do I need an attorney for my LLC? Like any legal formation, it is extremely important that any individuals associated with your LLC are qualified and trustworthy. In case you have kids or a spouse, you’ll need an lawyer that will help you complete the forms and register the name of your business, as well as any alterations (name changes). While the most common reasons to form an LLC would be to avoid state taxes and comply with tax laws, having a registered agent and a skilled attorney also lets you secure your individual interests while still being able to operate your business peacefully.

Do I need an accountant for my LLC? Running an LLC is a really complex and intricate job, and it requires the eye of a qualified accountant. When you file your papers with your state’s Secretary of State, he or she will provide you with a detailed list of who is authorized to make changes and who is responsible for completing them. While this sounds helpful, many accountants aren’t qualified to handle the complex task of incorporating a small business. The Secretary of State also has specific rules about who will represent the LLC, when filings are to be made, how they should be completed, and what fees are required.

Do I need an accountant for my LLC? It is dependent upon your state’s laws. Most states allow a sole proprietorship to incorporate as an LLC, but you must incorporate as a corporation first, before it is possible to incorporate as an LLC. Regardless of the type of business you are in, you want a qualified individual to help you produce the necessary Articles of Organization, register the name of your LLC, and keep the books.