The Popularity of Massachusetts LLCs
These days many new business owners and start-ups prefer to register their business as an LLC (Limited Liability Company) in Massachusetts. And there is good reason for that. A basic LLC is relatively easy to set up and even a more complicated ownership structure only requires internal documents that can be drafted by an attorney for fairly inexpensively. In addition, an LLC requires very little in terms of accounting or annual corporate maintenance. Some benefits of LLCs also include the following:
1. fewer technical requirements and formalities than an Corporation.
2. can get the benefit of pass-through taxation / single taxation (like an S-Corp, but without the formalities).
3. gives the LLC owners / members protection from personal liability much like a Corporation.
4. allows for a flexible ownership and management structure.
For all these reasons, and more, LLCs have become a popular type of business entity for business owners in Massachusetts. If you would like to start an LLC or any other type of business entity OR if you need information and advice on the type of entity to choose for your business, please contact an attorney at The Jacobs Law, LLC — Your Attorneys for Life & BusinessTM