Setting up Shop in Massachusetts
2/3/2012 12:00:00 AM
So you’re thinking about opening a business in Massachusetts? Great! No doubt you’re also considering all the things associated with such a venture, such as commercial insurance, Massachusetts regulations and laws, employee packages and even vehicle and/or marine insurance.
What are some of the other items on your to-do list?
1. What entity type will your new venture be? Will it be an incorporated company, a sole trader? All of these structures have different tax implications, so consider this point very carefully. Once you have thought this through, file your papers with the Secretary of Commonwealth – according to Mass.gov most first-time and annual filings can be done online, making that task relatively simple!
2. Do you have a business name? Check whether it may infringe other trademarks or service marks – if you pick the same name as another entity, you may open yourself up to litigation.
3. Have you filed a business certificate, registered for your Tax ID or Employer ID number with the Massachusetts Department of Revenue and obtained a Certificate of Good Standing?
Finally, don’t forget to investigate commercial insurance. Massachusetts is a great place to live and work – don’t let the paperwork get in the way of having a great business in a great location. Checking off your to-do list is easy if you know where to look for helpful information.
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1. What entity type will your new venture be? Will it be an incorporated company, a sole trader? All of these structures have different tax implications, so consider this point very carefully. Once you have thought this through, file your papers with the Secretary of Commonwealth – according to Mass.gov most first-time and annual filings can be done online, making that task relatively simple!
2. Do you have a business name? Check whether it may infringe other trademarks or service marks – if you pick the same name as another entity, you may open yourself up to litigation.
3. Have you filed a business certificate, registered for your Tax ID or Employer ID number with the Massachusetts Department of Revenue and obtained a Certificate of Good Standing?
Finally, don’t forget to investigate commercial insurance. Massachusetts is a great place to live and work – don’t let the paperwork get in the way of having a great business in a great location. Checking off your to-do list is easy if you know where to look for helpful information.
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