An Act relative to LLC reporting fees
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill proposes to establish and collect reporting fees from limited liability companies (LLCs) in Massachusetts. The fees would be used to support the Secretary of the State’s office. The bill aims to generate revenue for the state while ensuring LLCs comply with reporting requirements. It seeks to streamline the process of tracking LLC activity.
Key provisions
- Establishes reporting fees for LLCs.
- Specifies the amount of the reporting fees.
- Designates the use of the collected fees.
- Requires LLCs to submit regular reports.
- Defines the scope of LLCs subject to the fees.
- Outlines the process for fee collection and enforcement.
- Creates a system for tracking LLC reporting compliance.
Who is affected
- Limited Liability Companies (LLCs)
- Business Owners
- Massachusetts Residents
- The Secretary of the State’s Office
- State Government
Notable changes
- Introduces a new fee structure for LLC reporting.
- Potentially increases state revenue through LLC reporting fees.
- May require LLCs to adjust their reporting practices.
Fiscal impact
The bill is expected to generate revenue for the state through the collection of LLC reporting fees.
Bill text
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Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
Cosponsor
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