Bill > H2803

This bill proposes to reduce the costs associated with organizing and maintaining limited liability companies (LLCs) by amending Section 12 of Chapter 156C of the General Laws. Specifically, it aims to lower the fee for filing an annual report, which is a required document for LLCs to remain in good standing with the state, from a previously unspecified amount to $250. Additionally, the bill introduces a new fee of $500 for filing the initial certificate of organization, which is the document used to officially create an LLC. These fees are to be paid to the state secretary. Section 1 of the bill, concerning the annual report fee, takes effect immediately upon passage, while Section 2, which includes both the certificate of organization and annual report fees, becomes effective on January 1, 2015.