Add Date To Legal Massachusetts Startup For Sole Proprietorship Forms For Free

Aside from your capital, you will need to prepare at least $300 to start a sole proprietorship in Massachusetts. For LLCs, it will cost a minimum of $500 and more for corporations. This will not include the additional licenses and other additional fees.

Though no action is required to legally create a sole proprietorship, you should follow four simple steps to start your business: Choose a business name. File a separate business name with your city or town clerk. Apply for licenses, permits, and zoning clearance. Obtain an employer identification number (EIN).

You don't have to file a document to ?form? your Sole Proprietorship with the state. However, there are a few things you may need to (or want to) do in order to operate legally. For example, your business may need a license or permit to operate. And it's best practice to open a separate business bank account.

In Massachusetts, a sole proprietor might consider using their own name or a trade name as their business name. If a sole proprietor chooses to use their own name, they are not required to register it with the commonwealth, nor must they file any formation paperwork.

You don't need to take any legal steps to form this type of business. If you are the only owner and begin conducting business, you automatically become a sole proprietorship. There is no need to formally file paperwork or submit anything at the federal, state, or local level to be recognized as such.

Corporations, LLCs and other business entities need to register with the Secretary of the Commonwealth before beginning business in Massachusetts. Annual updates are usually required as well.