Bill > H494

This bill reduces filing costs for microbusinesses by modifying the fees for filing a certificate of organization and annual reports. Specifically, the bill amends chapter 156C of the General Laws to establish a flat $200 fee for microbusinesses when filing their initial organization certificate and annual reports, which is likely lower than the standard filing fees. A microbusiness is defined in section 69 of chapter 23A (though the specific definition is not provided in this bill text), but typically refers to very small businesses with limited employees or revenue. By lowering these administrative costs, the bill aims to make it easier and more affordable for small businesses to establish and maintain their legal business status, potentially encouraging entrepreneurship and supporting economic development for smaller enterprises.

Business and Industry

https://malegislature.gov/Bills/194/H494