Incorporation in Massachusetts

Find the right Business Incorporation attorney in Randolph, 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

A corporation enjoys benefits that unincorporated companies do not. Primarily, it cannot be held accountable for an amount of debt greater than the value of the assets that the owners have invested in it. Without incorporation, the personal property of business owners is at stake should the company become unable to satisfy its debts. A corporation may also find it easier to finance itself through loans, allowing creditors in the Randolph area to evaluate their investment by assessing the corporation rather than the individual credit-worthiness of its owners. Lastly, a corporations charter requires that ownership be divided into stakes or "shares" of stock, all of equal size. This makes the process of transferring control much more practical.

Costs of Incorporation

There are costs associated with incorporation, both short and long term. First, businesses in Massachusetts may be charged a fee to incorporate. Also, a corporation is taxed as its own entity. The individual incomes of the owners are still taxed also, and this can mean the same income is taxed twice, known as double taxation. With proper planning and assistance from a local Randolph lawyer, you can avoid this disadvantage.

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Life in Randolph

Town of Randolph is a city in Norfolk County, Massachusetts. Some folks may be interested to find out that the word "town of" is in Randolph's official name. The decision was made during the time it incorporated as a city in 1793. It was also when the motto "say what you feel" became the motto. Randolph is located in the Greater Boston Area and is directly connected to the Boston by major highways like Interstate 93 and US Route 1, rail lines like the Middleboro line to Boston, busses, and the Norwood Memorial Airport. Most Randolph residents use Logan International Airport for their air travel because it is a major hub and flights can cost less. Randolph plays host to a growing community of Boston professionals like lawyers. Randolph lawyers are licensed to practice throughout Massachusetts and know the rigid court procedures of county, state, and city courts.

Many families select Randolph for its schools system that offers kindergarten through high school. Students entering ninth grade may select to attend Blue Hills Regional Technical School or Norfolk County Agricultural School. They're referred to as "Blue Hills" and "Aggie," respectively. Randolph has notable residents like bandleader and producer Danny Davis, rap dj and producer Clinton Sparks, painter and sculptor William Rimmer, NHL Hall of Famer Rod Langway, and author Mary. E. Wilkins Freeman. Town of Randolph is a popular city with lots of great restaurants.

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