Las papiplatanos

The Massachusetts House of Representatives recently voted to approve H.5562, An Act Relative to Economic Development in the Commonwealth, which includes a major reform to the filing fees for new Limited Liability Companies (LLCs), and micro-businesses.

I’m proud to have filed an amendment that permanently reduces the annual filing fee to $300 for qualifying micro-businesses.

Small and micro businesses are the backbone of Springfield's economy. Collectively, they employ more people than any single employer in our city, including: Baystate Health, MassMutual, MGM Springfield, SPS or any other public or private employer.

These entrepreneurs are the heartbeat of our neighborhoods. They create jobs, invest in our community, and take the risks that keep our local economy growing. We should be making it easier—not more expensive—for them to start a business, stay in business, and do what they love.

The bill also includes a phased-in structure outlining the filing fee for a “new” LLC gradually increasing over five years, making it more affordable for entrepreneurs to launch new businesses. The new structure is as follows:
• Year 1: $100
• Year 2: $200
• Year 3: $300 (micro-businesses stay at $300)
• Year 4: $400
• Year 5: $500

We will continue fighting to reduce unnecessary costs on our smallest businesses and ensure Massachusetts remains a place where entrepreneurs can thrive.