Creating a Limited Liability Company (LLC) in Massachusetts can provide entrepreneurs with various benefits, including protection against personal liability for business debts and obligations. Here’s a step-by-step guide to help you establish an LLC in Massachusetts:

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STEP 1: Choose a Name for Your LLC

Compliance: Your LLC’s name must include either “Limited Liability Company,” “L.L.C.,” or “LLC.”

Uniqueness: The name must be distinguishable from existing businesses registered in Massachusetts.

Check Name Availability: Use the Massachusetts Secretary of the Commonwealth‘s website to verify that your desired name is available.

Optional Name Reservation: While Massachusetts doesn’t offer name reservation, you can get a preliminary determination on the availability of your chosen name by calling the Corporations Division.

Time it Takes to name an LLC

Researching and deciding on a name: 1-2 hours

If opting for a name reservation: The act of filing can take about 10-15 minutes.

If opting for a name reservation: Filing can take minutes, but approval might take a few days to a week.

STEP 2: Appoint a Registered Agent

Your registered agent will be responsible for receiving official correspondence and legal notices on behalf of your LLC.

In Massachusetts, the registered agent is often referred to as the “Resident Agent.”

The agent can be an individual or a business entity but must have a physical address in Massachusetts.

Time it Takes to be a Registered Agent

Registered Agents MUST BE at the Business Address everyday during business hours. This is why Home Addresses Are Not Accepted.

If you already have someone in mind (like an attorney or a service), this can be quick. If you need to find and appoint a registered agent: 1-3 hours.

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Benefits of having Inc Authority serve as your Registered Agent include:

·       Privacy: Keep your home address private

·       Efficiency: Easily receive and promptly process state and legal documents

·       Hassle-free: Reduction of junk and solicitation mail

·       Legal Compliance: Avoid fines, penalties, and possible dissolution

·       Convenience: Serves as your public & legal business address

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STEP 3: File the Certificate of Organization

This document formally creates your LLC in Massachusetts.

It can be filed online or by mail.

You’ll need to provide details such as the LLC’s name, the resident agent’s information, the business address, and management structure (member-managed or manager-managed).

A filing fee will be required.

Time it takes to write the Articles of Organization

Preparing the document: 1-2 hours

Filing online: 30 minutes to 1 hour.

Waiting for confirmation/approval: This can range widely, but typically, online filings can be processed in a few days to a couple of weeks.

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STEP 4: Create an Operating Agreement

Although not mandatory in Massachusetts, it’s highly advisable for LLCs to have an Operating Agreement.

This internal document outlines the management structure, membership interests, and operating procedures for the LLC.

Time it takes to write an Operating Agreement

If using a template and making minimal changes: 1-3 hours

If drafting from scratch or having extensive negotiations among members: Several days to weeks.

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STEP 5: Obtain an Employer Identification Number (EIN)

Apply for an Employer Identification Number (EIN) from the Internal Revenue Service (IRS) for tax purposes.

You can apply for an EIN online at no cost through the IRS website: https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online

The EIN will be used for tax filings, opening bank accounts, and hiring employees.

Time it takes to get an EIN / Tax ID

Filling out the online form and receiving the EIN: Approximately 0.5 to 1 hour (the online process is relatively quick if there are no complications).

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SO HOW MUCH TIME WILL IT TAKE TO FORM AN LLC MYSELF? DO IT MYSELF (DIY) an LLC?

Total Time Investment (Minimum): 5 hours (if you exclude the higher range estimates and name reservation)

Total Time Investment (Maximum): 11.5 hours (if you include the higher range estimates and name reservation)

This gives a ballpark range of 5 to 11.5 working hours for an individual, excluding all waiting times. It’s worth noting that these times can vary based on the person’s familiarity with the processes and any specific details or challenges related to the business being set up.

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