Incorporation in Massachusetts

Find the right Business Incorporation attorney in Fitchburg, 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 particular 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. Without incorporation, the personal property of business owners is at stake should the company become unable to satisfy its debts. Furthermore, a business that has not incorporated puts the unnecessary burden on creditors in the Fitchburg area to evaluate the credit worthiness of individual owners rather than that of the business, making loans more cumbersome. Finally, the ownership of a corporation is divided into an abundance of equal portions or "shares" of stock. Without this mechanism, transferring ownership of a business would be impractical.

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 individual incomes of owners who are paid disbursements from the corporation's earnings are still taxed as well. This is called double taxation, but it can be avoided with proper planning and assistance from a local Fitchburg lawyer.

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Life in Fitchburg

Fitchburg is the third largest city in Worcester County, Massachusetts. According to the 2010 census, it has a population of 40,318 people. Fitchburg is a city big on education, being home to Fitchburg State University, and also seventeen public and private elementary and high schools.

Some fun sites to check out are Fitchburg Historical Society, the Fitchburg Art Museum, Coggshall Park, the Wallace Civic Center, and Cornerstone Performing Arts Center.

Notable residents of Fitchburg include Michael Beasley, George Crowther, Ryan Gomes, Art Longsjo, Pat Moran, and Marion Rice.

Many attorneys have established law offices in Fitchburg to take care of the legal needs of residents. These attorneys are very capable and focus on providing excellent legal services.

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