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Massachusetts is the most populous state in the New England region of the northeastern United States. It is bordered by the Atlantic Ocean to the East, the states of Connecticut and Rhode Island to the South, New Hampshire and Vermont to the North, and New York to the West. The capital of Massachusetts is Boston.
Massachusetts has a total area of 10,565 square miles (27,337 km2).
The United States Census Bureau estimates the population of Massachusetts was about 6,9 million people as of 2019.
English is the most-spoken language in Massachusetts, about 80% of the population speaking only English at home, while about 7.5% speaking Spanish, 3% speaking Portugese, 1.6% speaking Chinese, 1.1% speaking French and other languages with less than 1% of the population.
The Government of Massachusetts is the governmental structure as established by the Constitution of Massachusetts. Massachusetts government, as at the national level of government, power is distributed among three branches: legislative, executive, and judicial.
In 2019, the real GDP of Massachusetts was about 595.56 billion U.S. dollars. The GDP per capita of Massachusetts was $75,258 in 2019.
Sectors vital to the Massachusetts economy include higher education, biotechnology, information technology, finance, health care, tourism, manufacturing, and defense. In recent years tourism has played an ever-important role in the state's economy, with Boston and Cape Cod being the leading destinations.
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The business laws of Massachusetts are user-friendly and often adopted by other states as a standard for testing business laws. As a result, the business laws of Massachusetts are familiar to many lawyers both in the US and internationally. Massachusetts has a common law system.
One IBC supply incorporation in Massachusetts service with the common type Limited Liability Company (LLC) and C-Corp or S-Corp.
The use of the bank, trust, insurance, or reinsurance within the name of the LLC is generally prohibited as limited liability companies in most states are not allowed to engage in a banking or insurance business.
The name of each limited liability company as set forth in its certificate of formation: Shall contain the words "Limited Liability Company" or the abbreviation "L.L.C." or the designation "LLC";
No public register of company officers.
Just 4 simple steps are given to start a business in Massachusetts:
* These documents required to incorporate a company in Massachusetts:
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How to start a business in Massachusetts, USA
There is no minimum or a maximum number of authorized shares since Massachusetts incorporation fees are not based on the share structure.
Only one director required
Minimum number of shareholders is one
Companies of primary interest to offshore investors are the corporation and the limited liability company (LLC). LLCs are a hybrid of a corporation and a partnership: they share the legal features of a corporation but may choose to be taxed as a corporation, partnership, or trust.
Massachusetts law requires that every business have Registered Agent in the State of Massachusetts who may be either an individual resident or business that is authorised to do business in the State of Massachusetts
Massachusetts, as the state-level jurisdiction within the US, has no tax treaties with non-US jurisdictions or double tax treaties with other states in the US. Rather, in the case of individual taxpayers, double taxation is minimised by providing credits against Massachusetts taxation for taxes paid in other states.
In the case of corporate taxpayers, double taxation is minimised through allocation and appointment rules related to the income of corporations engaged in multi-state business.
The filing fee is $65. If you are not a Massachusetts resident but you want to conduct business in the state, you need to pay an additional $35.
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Massachusetts Filing Due Date: Corporate tax returns are due by March 15 - or by the 15th day of the 3rd month following the end of the taxable year (for fiscal year filers).
Extended Deadline with Massachusetts Tax Extension: Massachusetts offers a 6-month extension, which moves the filing deadline to September 15 (for calendar year filers).