Once your Massachusetts LLC is created, you must adhere to your state’s filing dates in order to maintain good standing and prevent costly fines or penalties.
This page provides answers to the following questions for a Massachusetts limited liability company:
What exactly is an annual report?
How do I submit my yearly report?
Should I use a registered agent?
Table of Contents
What Exactly Is an Annual Report?
An annual report is a routine file that your LLC must make every year in Massachusetts to update your company information, which includes:
Name of the company and its street address
The general nature of the business
Name and address of the registered agent
LLC officials’ names and residences (i.e., members, managers, directors, or officers)
This report’s goal is to maintain your company records current with the State of Massachusetts. This enables creditors and other interested parties to locate your company address in the event that they need to contact you. This information is used by the government to trace the payment of your LLC state taxes.
How Do I Submit My Annual Report?
Massachusetts LLC annual reports may be filed with the Secretary of the Commonwealth. Prior to submitting, you must have your state identification number, which may be acquired by doing a business entity search.
Should I Hire a Registered Agent?
A registered agent, also known as a resident agent in Massachusetts, is a person or business designated by your firm to receive and deliver documents on your behalf. You may guarantee that your LLC’s reports are always submitted on time to the relevant government agency by employing a registered agent service. The following are the three primary benefits of employing a registered agent service for your LLC:
Avoid late filing penalties: If a Massachusetts LLC fails to submit an annual report, the Secretary of the Commonwealth has the authority to dissolve it. A registered agent service will remind you when reports are due and, for an extra cost, will submit the file for you.
Gain flexibility: A registered agent service may receive and submit paperwork for your LLC during normal business hours, allowing you to avoid working from 9 a.m. to 5 p.m. every week. You may also employ a registered agent service to create an LLC in states where you do not already have a company presence.
Keep your personal address out of public records: Using a registered agent service helps you to keep your personal address out of public records, preserving your privacy. Furthermore, if your LLC is sued, the lawsuit will be served at the registered agent’s address rather than your place of business.