Incorporation in Massachusetts

Find the right Business Incorporation attorney in Chicopee, MA

In Massachusetts, businesses are allowed to incorporate, thereby becoming their own legal entities. When an incorporated business acts, whether it is to buy and sell property, assent to contracts or exercise legal rights, the process is then attributable to the business itself and not its owners. To incorporate in Massachusetts, a business must file with the Secretary of State in compliance with certain guidelines.

Benefits of Incorporation in Massachusetts

Certain benefits inure to a business in Massachusetts that has incorporated over one that has not. First, a corporation's liabilities can never go beyond the amount invested in the business by the owners. Had the business remained unincorporated, owners risk losing their personal property should the business become unable to fulfill its liabilities. Also, creditors in the Chicopee area typically prefer to deal with corporations, since a loan is an investment more easily evaluated when the credit-worthiness of various owners is not an issue. Lastly, the ownership stake in a corporation can be apportioned into uniform slices, known as "shares" of stock. This makes it possible to sell ownership investments in more manageable slices.

Costs of Incorporation

These advantages come at a price. First, incorporation in Massachusetts may require a filing fee. Second, a corporation pays taxes just like any other entity. The incomes of owners as individuals are also taxed of course, meaning that income to the corporation may be subject to double taxation. However, this disadvantage can be avoided with proper planning and help from a local Chicopee lawyer.

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Life in Chicopee

Chicopee is part of Hampden County, Massachusetts. It is located near the Connecticut River. It has a population of around 55,298 people, making it the second largest city in Western Massachusetts. Springfield is the first.

Chicopee is filled with many small businesses. Some of the top employers include Chicopee Provision Company, Blue Seal, and Millie's Pierogi Company.

Past and present famous residents include Ray Fitzgerald, Damien Fahey, Philip Labonte, Scott Barnes, and The Acacia Strain musical group.

Chicopee is also home to many lawyers who have established law offices and small firms in Chicopee. Thus, any and every legal inquiry can be competently handled by the legal force in Chicopee.

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