Massachusetts Corporation
For Massachusetts Corporation prices and State fees, please visit the costs page for forming a Corporation in Massachusetts.
Massachusetts corporation and corporations are general, for profit, corporations, refered to as "C Corporations", referring to Chapter "C" of the IRS tax code. A corporation is a separate legal entity and is, essentially, treated as a person, legally. The entity can own property, open bank accounts and credit lines and, under its own name, conduct business. The corporation is responsible for its own debts and actions, therefore (if the company is operated correctly) in the event of a lawsuit that forces the business into bankruptcy, the owners of the corporation are not liable for the corporate debt.
Massachusetts corporation must observe some operating formalities and maintain its separate legal status. Holding shareholder meetings, at least annually, is one of these formalities. At these meetings the corporation shareholders discuss and decide on critical business matters and approve actions taken by the corporation for the operating period. These meetings should be recorded in the form of meeting minutes, this is a legal record that shows the shareholders are approving actions and the officers are indemnified by the stockholder approval of the business actions.
A corporation’s Articles of Incorporation are the documents filed with the state office that brings the company into legal existence. Once the documents are filed the corporation is a legal entity. However, there are additional elements required so that the legal entity that has been created provides the protection and tax savings offered by corporate law. Depending on the nature of your corporation, the documentation requirements could be relatively simple or very complicated. Each state has its own requirements regarding the contents of the articles of incorporation. Please contact one of Companies, Inc.’s helpful associates to determine what the filing requirements are for your potential corporation in your chosen state of incorporation.
