Massachusetts law requires an LLC name to end with the words “Limited Liability Company”, “Limited Company”, “LC”, “LLC”, or “L.L.C.”. The company name cannot have symbols. LLC’s can check for name availability using the Massachusetts name database (http://www.sec.state.ma.us/cor/corpweb/cornameres/nameresinf.htm).
The Limited Liability Company Certificate of Organization must be filed with the Secretary of the Commonwealth Corporations Division. The LLC must inlcude their name, address, character of the business, and name, address, and signature of the registered agent. The certificate can be filed online using the Corporations Online Filing System (https://corp.sec.state.ma.us/corp/loginsystem/login_form.asp?NewFiling=True) or by mail.
Massachusetts LLCs must have one or more members/managers and must be at least 18 years old. State law does not include any provision specifiying where members or manageres must reside.
What is an LLC?
LLC refers to a Limited Liability Company, and it is organized by business owners. They have fewer corporate formalities and can be taxed by the IRS as a sole proprietorship, S corporation, or C corporation.
Each state has different requirements and regulations regarding the formation of an LLC. Business owners should check with state laws when considering forming an LLC.
Owners of LLCs are known as members, they can be individuals, corporations, other LLCs, or foreign entities. There is no limit on the number of members an LLC can have. In most states, “single-member” LLCs are allowed, where there is only one owner involved in managing the LLC.
The IRS will treat the LLC as a corporation, partnership, or included in the LLC owners personal tax return. A domestic LLC with at least two members is classified as a partnership for federal income tax purposes unless they file Form 8832 and elect to be treated as a corporation.
LLCs carry tax advantages over other forms of business such as limited partnerships. The owners of an LLC do not assume personal liability for business debt, and any losses of the LLC can be used as tax deductions against active income.
An LLC can be formed through the state business formation process or consulting with LegalZoom.
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