Limited Liability Company (LLC) Laws in Massachusetts
Formulating a limited liability company has been an option in Massachusetts since 1996. It is an ideal option for small to mid-sized businesses with multiple owners. If you are considering filing as a limited liability company in Massachusetts, Shapiro Law Group, PC, can help. Our firm has the business law experience and knowledge needed to help clearly explain the facts about forming an LLC and to help you decide if that is the best option for your business. As an LLC, a business can have as many members as you would like. An LLC is much like a partnership but it protects all owners from liability, just as stockholders are protected from company debt under other designations. An LLC can be dissolved in the event of a death, withdraw, or bankruptcy of a member. However, there can be a majority vote of remaining members to continue the business as an LLC.
BENEFITS OF AN LLC COMPANY
There are many advantages to filing for an LLC designation over other options in Massachusetts. One major benefit is the tax filing process. With an LLC, the tax allocation rules mean the earnings of the LLC are only taxed once. Another advantage is the flexibility of management. The members of the LLC can adopt any type of organization style and designate managers as the members see fit. One disadvantage can be the fact that LLC’s are relatively new and there can be more paperwork involved than with a normal partnership.
EXPERIENCED BUSINESS LAW FIRM
You have certainly worked hard to create the business you have. Finding the best means of pursuing that business dream and ensuring growth can be overwhelming and confusing. The tax, organizational, and protection issues may make or break a company. Shapiro Law Group, PC, knows how important it is to start out on your own terms and venture into the next level of your business as it grows. We can assess your goals and help protect your business, while letting you maximize your growth. Our business law attorneys will explain the benefits and disadvantages filing for an LLC designation may have on your individual business and your business’ future. We will discuss your financial situation and help you navigate the next step that works in your best interest. Let us be there from the beginning to handle your LLC filing and throughout the growth of your company so you are prepared for any challenges along the way. Our legal team can be the skilled and dedicated source of protection, information, and support your LLC needs. The attorneys at Shapiro Law Group, PC, are ready to help you. Contact us today to set up your free initial consultation. (617) 203-8895.