Bill > H479

This bill modifies the fee structure for limited liability companies (LLCs) in Massachusetts by introducing a reduced annual renewal fee for smaller businesses. Specifically, LLCs with annual revenues of $50,000 or less will be required to pay a $100 annual renewal fee, while still paying the standard incorporation fee in their first year of business. This provision represents a potential financial relief for small businesses by offering a lower-cost renewal option compared to standard fees. The bill aims to support smaller LLCs by reducing their ongoing administrative costs, which could help encourage business formation and sustainability for entrepreneurs and small enterprises operating in the commonwealth.

Business and Industry

https://malegislature.gov/Bills/194/H479