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#Massachusetts annual report filing requirements how to#
#Massachusetts annual report filing requirements Pc#

NOTE: Make sure to search variations of spelling, plurals and misspellings as the state may reject a name that is too similar (then you have to start all over again, wasting valuable time). Make sure your company name choice is available by searching the Massachusetts Business Entity Database.

Tip: search misspellings, plurals, variations of spelling, sound-alikes, and other versions of your chosen name to be sure it’s not already registered. There’s an art to trademark searches (trademark specialists will charge you handsomely to do a thorough search) but in our experience if you can use Google at a fairly advanced level you can reasonably clear a name yourself. This will be a very good indicator if your name will have any conflicts. Do a trademark search with the US Patent and Trademark Office (USPTO).This should cover many cases where a company name is being used but not officially trademarked (see next tip). NOTE: If you intend to operate nationally or even internationally it will be even more important that your name be unique. Search Google, Bing and DuckDuckGo as a “first sweep” for any potential conflicts, especially in your state or local jurisdiction. Search the web for your proposed name.Here are some of our tips on business identity including logo and trademarks. Make sure you’ve covered the basics: unique, easy to understand/pronounce (practice saying it out loud: “Thanks for calling XYZ”) and can survive over time (“DVD World” is not timely).

#Massachusetts annual report filing requirements how to#

In Step 3 we’ll show you how to search for the name in Massachusetts, but we highly recommend you do the following before searching Massachusetts state databases: Changing your business name is possible, but can be costly and take time. Has largely replaced the DBA and Corporation in popularity recently as it provides liability protection but with much less complexity (and taxation) than a Corporation.Ĭhoosing a business name is easier said than done – many legal and business problems can arise from picking the wrong name.

An LLC or “Limited Liability Company” is a newer type of business that is both a separate entity but provides very easy management (doesn’t require directors or officers) and taxation.

#Massachusetts annual report filing requirements Pc#

Some professions are required to choose what is known as a “Professional Corporation” or PC (doctors, lawyers, architects, etc.). More complex than a DBA but the entity of choice for large companies and startups that intend to raise funding.

A Corporation is a separate entity (provides liability protection to the owners) that has a structure that includes shareholders, directors and officers.

A DBA or “Doing Business As” (also known as a “Fictitious Business Name” or FBN) is not really a separate structure, but just a different name that an individual or partners use as their business name.

Click here to learn more about business entities. There are 3 basic options: a DBA, a Corporation, or an LLC. Massachusetts LLCs, Corporations, and DBAs Step 1: Decide on a Business Structure Many have called for reform, but most added that the tax rates aren’t exorbitant, and the state and local governments are generally willing to work with entrepreneurs to help them navigate the legal framework. While most entrepreneurs report that state regulations and taxes aren’t prohibitive or overwhelming, several small business owners said complying with regulations can be an unnecessary headache. Major Massachusetts companies include General Electric, TJX Companies, National Amusements, The Enterprise, Thermo Fisher Scientific, and Staples. The smallest gains were in firms employing 5 to 9 employees, which added 2,517 net jobs. Among the seven BDS size classes, firms employing 20 to 49 employees experienced the largest gains, adding 7,717 net jobs.

Small businesses created 34,568 net jobs in 2014. This was above the previous year’s decrease of 0.1%. During the year ending November 2016, private-sector employment increased 3.2%. Firms with fewer than 100 employees have the largest share of small business employment. Massachusetts small businesses employed 1.4 million people, or 46.8% of the private workforce, in 2014. Massachusetts Business Facts and Environment Step 12: Annual and Ongoing Requirements.Step 5: Open Company Bank and Credit Accounts.Step 4: Obtain Your Federal Employer Identification Number.