Senate Bill 70 (S.70) is a bill that I proposed to State Senator Eileen Donoghue. S.70 allows small business LLCs to pay an annual fee of only $250 instead of the usual $500.
To qualify as a small business LLC, the company must have 6 employees or less. Currently Massachusetts has the highest annual fee for LLCs in the country. And regardless of whether you business has no employees or hundreds of employees, all LLCs pay the same high fee. To me, this seems unfair to small businesses.
With the support of Senator Donoghue and a big effort by small business owners all over the state, S.70 survived it’s first hurdle of getting approval from the joint senate/house committee on small business and community development. With all this support we won approval for S.70 after a public hearing where many business owners and I testified before the joint committee.
Now S.70 has been moved to the all important Senate Ways and Committee which decides budget matters. They, however, do not have public hearings. This committee must approve S.70 before it goes to a vote in the state legislature. If you are interested in showing your support, please mail a letter (they don’t take emails or calls) to:
Chairman Stephen M. Brewer
Senate Ways and Means Committee
Massachusetts State House
Boston, MA 02133