Which types of businesses must file an annual report?
To stay in good standing with the Massachusetts Secretary of the Commonwealth, the following types of entities (both foreign and domestic) must file an annual report:
- Corporations
- Limited liability companies (LLCs)
- Nonprofits, cooperatives, and religious corporations
- Limited Partnerships (LPs)
- Limited Liability Partnerships (LLPs)
How much does it cost to file?
The filing fee varies considerably based on the type of organization, as follows:
Corporations (foreign and domestic) – $125
LLCs (foreign and domestic) – $500
Nonprofits, cooperatives, and religious corporations – $15
LPs (foreign and domestic) – $500
LLPs (foreign and domestic) – $500
The Massachusetts Secretary of the Commonwealth only assesses a fee to corporations for failure to file an annual report. But don’t assume that not being fined means you are in the clear. All business entities—including nonprofits and religious corporations—can be dissolved if they fail to file an annual report for two consecutive years.