Forming a new business

ADS Consultancy, LLC followed the necessary steps to create their limited liability company (LLC) in a formal manner. The process adhered to the following steps:

• Selected a suitable name for the business.

• Chose Massachusetts (MA) as the state for registering the LLC.

• Utilized a zero-cost service provider, such as LegalZoom, to facilitate the registration process.

• Selected MA as the state and followed the provided prompts.

  • Optional paid services were considered and deemed not necessary.

  • A physical street address within the chosen state was provided.

  • Paid the tax deductible state's registration fee ($500 for MA)

  • The founder assigned themselves as the resident agent for the company.

• Upon approval by the state, a Certificate of Organization was obtained.

  • The approval email from the service provider took two weeks, but the state website had the LLC listed a few days before.

• The Certificate of Organization included a state-provided Identification Number for the newly formed LLC.

• Applied for an Employer Identification Number (EIN) at IRS.gov using the information provided in the letter, following a Do-It-Yourself (DIY) approach.

• Registered the business's Beneficial Ownership Information (BOIR) with the Financial Crimes Enforcement Network (FINCEN) promptly, also using a DIY approach.

  • The EIN was required for this mandatory step, and there may be a deadline to meet.

  • BOIR is not an annual requirement. A report only needs to be submitted once, unless the filer needs to update or correct information.

The LLC will be required to file an Annual Report each year with the state.

How to file an Annual Report in Massachusetts before the first anniversary:

1. Open your web browser and conduct a search for the Secretary of the Commonwealth of Massachusetts.

2. Navigate to the official website ( https://www.sec.state.ma.us.)

3. Utilize the site’s search function to locate “LLC Annual Report.”

4. A pop-up window will appear displaying the search results. Click on the link labeled "Limited Liability Company Information."

5. Under the section for Annual Reports, select the option to "File Online."

6. Enter your Company Identification Number (CID) and Personal Identification Number (PIN). This information is provided in the correspondence received by mail at the time your LLC was established. Alternatively, you may obtain this information by sending your LLC Certificate of Organization to the following email address: corpcid@sec.state.ma.us.

7. Click on "Annual Report"

8. The Annual Report Submission form will be pre-populated with the data provided during the initial filing of the LLC. Please review and make any necessary modifications before submitting the form.

9. Enter your email address to receive a confirmation receipt, which will be sent to the specified address.

10. Proceed to make the payment of $520 using a credit card, debit card, or bank account.

11. Upon completion of the payment, an acknowledgment will be displayed, and a confirmation copy will be sent to the email address you provided.

Disclaimer: The information provided in this post is for general informational purposes only and should not be considered as legal advice. The process of creating an LLC may vary based on specific jurisdictions and circumstances. It is recommended to consult with a qualified attorney or legal professional to ensure compliance with applicable laws and regulations. The author and publisher of this post make no representation or warranty, express or implied, regarding the accuracy, completeness, or reliability of the information contained herein. Any reliance you place on such information is strictly at your own risk. The author and publisher will not be liable for any losses or damages in connection with the use of this information. Always seek professional advice for your specific situation.