Massachusetts – 50 States of Incorporation, Rebooted

We’re travelling farther up the East Coast this week with a stop in Massachusetts. Home to the landing of the Mayflower, Massachusetts is a historically rich state that many entrepreneurs enthusiastically flock towards.

What makes starting a business in Massachusetts so appealing? The Bay State boasts a healthy economic environment, an educated workforce, and the community support of other fellow business owners.

Incorporating a business in Massachusetts is not without its fair share of challenges. Some of these include high real estate costs and labor shortages, which can make it difficult for small businesses to stay financially afloat.

The good news is the Massachusetts Secretary of State is available to help entrepreneurs ease their way into small business ownership – and so are we! Keep the following tips in mind before you incorporate your business in Massachusetts.

1. Determine the entity you want to file as first.

Plan ahead before going into business by drafting business plans and getting training and advice on business financing. Once you have the foundation ready, choose a business structure that fits the needs of your small business.

You can file as a sole proprietorship, partnership, limited liability company (LLC), corporation, S corporation, or cooperative. If you are unsure what type of business structure to file under, you should seek help from a legal professional.

2. Now that you have your entity in place, it’s time to choose a name for your business and file a DBA Certificate.

It’s recommended that you conduct a name search before filing your business to ensure that your name is available for registration. If you plan on conducting business under a name that is different from your own, a DBA registration is required. This certificate can be filed through your local county clerk recorder.

3. You’ll need to file for a tax ID number before you register your business with the Secretary of State.

These are also referred to as Employer Identification Numbers (EINs) and allow your small business to hire employees. You may also use this number to uniquely identify employer tax accounts, instead of using your social security number. An EIN is less sensitive than an SSN, which makes it ideal to use on official documents and face less risk of identity theft.

4. Have you obtained all of your necessary business licenses and permits yet? If not, now’s the time.

Check with your county, state and federal authorities to determine which licenses your business requires before filing. To make this process easy, we offer a business license compliance package, where we complete this research for you.

5. Massachusetts’ Small Business Development Center Network is here for you if you still need help.

The Small Business Development Center is committed to helping Massachusetts business owners improve overall management and business operations. Their offerings include one-on-one business assistance, low-cost training for small businesses, and access to capital.

Need a little more help? The Massachusetts Small Business Development Center Network also covers a few key areas that matter for entrepreneurs. These include business plan development, cash flow analysis, marketing, personnel and organization issues, and conventional and non-conventional financing.

Speaking of capital, funding is actually pretty attainable in Massachusetts thanks to its business friendly community. Check out the state’s list of assistance organizations. Entrepreneurs will find contact information for the Massachusetts Office of Business Development, Mass BizWorks, MassDevelopment, Massachusetts Growth Capital Corporation, MassVentures, and more.

If Massachusetts sounds like your kind of state for business, follow their Secretary of State on Facebook and Twitter for all the latest small business updates.

Thinking about starting a small business in Massachusetts? Give us a call at 1(877) 692-6772 or visit us at mycorporation.com if you have any questions about forming a business or the regulations required.

Deborah Sweeney

Deborah Sweeney is an advocate for protecting personal and business assets for business owners and entrepreneurs. With extensive experience in the field of corporate and intellectual property law, Deborah provides insightful commentary on the benefits of incorporation and trademark registration. Education: Deborah received her Juris Doctor and Master of Business Administration degrees from Pepperdine University, and has served as an adjunct professor at the University of West Los Angeles and San Fernando School of Law in corporate and intellectual property law. Experience: After becoming a partner at LA-based law firm, Michel & Robinson, she became an in-house attorney for MyCorporation, formerly a division in Intuit. She took the company private in 2009 and after 10 years of entrepreneurship sold the company to Deluxe Corporation. Deborah is also well-recognized for her written work online as a contributing writer with some of the top business and entrepreneurial blogging sites including Forbes, Business Insider, SCORE, and Fox Business, among others. Fun facts/Other pursuits: Originally from Southern California, Deborah enjoys spending time with her husband and two sons, Benjamin and Christopher, and practicing Pilates. Deborah believes in the importance of family and credits the entrepreneurial business model for giving her the flexibility to enjoy both a career and motherhood. Deborah, and MyCorporation, have previously been honored by the San Fernando Valley Business Journal’s List of the Valley’s Largest Women-Owned Businesses in 2012. MyCorporation received the Stevie Award for Best Women-Owned Business in 2011.