Steps to Forming a Massachusetts Corporation
Information We Need From You to Start Your Corporation
1: Select a Name: Your company name must include one of the following: Incorporation, Incorporated, Company or Limited (or an abbreviation of one of those words) at its end.
2: Authorize Shares: Corporations are owned by shareholders, who own shares of stock in the company. Massachusetts requires you to designate the number of initial shares of stock you intend to authorize, the class of shares, and the par value. Generally, a corporation authorizes a small number of shares, say 100. At the first shareholder meeting, you would usually issue 51% of those shares to yourself, giving you control of the company. The remaining shares can be held for future business partners.
Most corporations authorize only one class of stock: common stock. Par value is not the actual value of the stock, but rather the lowest price the stock can be sold for.
3: Choose Management: Corporations are managed by their Directors. Directors are in charge of setting company policy, appointing corporate officers (President, Treasurer, Secretary), establishing salaries and bonuses, and issuing stock. Typically, you would appoint yourself the sole Director. The roles of the corporate officers you would take on yourself.
4: Remaining Info Needed to File:
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Business purpose: the lawful business your company intends to pursue.
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Effective date: if you want your company’s official formation date to be different from the filing date, you can specify a later date (no later than 90 days after filing).
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Registered Agent: lawful registered agents have a physical street address in the state. This is called a registered office (no PO boxes). Speedy filings come with one free year of Massachusetts registered agent service by Northwest Registered Agent. This service keeps your private home and office addresses off the public record and fulfills the registered agent, mailing and principal office address requirements.
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Directors and officers: the names and addresses of initial directors, president, treasurer, and secretary.
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Fiscal year end: the date you wish to be the end of your fiscal year
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Principal office: the physical street address of the business office where your corporate records and financial books are kept.
Form Your Corporation Here Online
Steps to Forming a Massachusetts LLC
Information We Need From You to Start Your LLC
1: Select a Name: Your company must include the words Limited Liability Company, Limited Company, or one of the following abbreviations: L.L.C., L.C., LLC or LC. If you want to see if your company name is available, you can conduct a Massachusetts business name search.
2: Membership: LLC owners are called members. They are not issued shares of stock like a corporation. Instead, they are assigned an ownership percentage. The percentage is usually, though not always, based upon the amount a member has invested into the company.
3: Choose Management: Most LLCs are simply managed by their members. The members set all policy for the company and are directly involved in the daily operations. However, members can also choose to appoint a manager to run the company. A manager can be a member or a third party.
4: Remaining Info Needed to File:
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Principal address: the business office address where your company records and financial books are kept.
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General character: the lawful business your company intends to pursue.
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Date of dissolution: if you wish to have your LLC dissolved at a specific later date, you can specify the day.
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Registered Agent: all lawful registered agents in Massachusetts must have a physical street address within the state. This is known as a registered office. It cannot be a PO box. Speedy filings come with one free year of Massachusetts registered agent service. This service keeps your private home and office addresses off the public record and fulfills the registered agent, mailing and principal office address requirements.
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Managers and authorized individuals: the names and business addresses of all managers or other individuals authorized to execute documents filed with the Corporations Division or make decisions regarding company land and assets.
Form Your LLC Here Online
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