What You Need to Know from MatchBooks and Bombard Law Office, PC
As we enter 2025, business owners, corporate leaders, and LLC managers must stay on top of their legal and compliance obligations. Neglecting key filings and updates can lead to unnecessary risks, financial penalties, or even the dissolution of your business. To help you stay ahead, Attorney Bombard (781) 214-0746) and I have compiled the most important updates you need to know:
📌 Annual Reports: Don’t Risk Dissolution
Corporations and LLCs must file an annual report through the Secretary of State’s website. Failure to do so can lead to the State dissolving your entity, stripping you of legal protections.
👉 Important Note: To remain compliant, corporations must file within 2.5 months of their fiscal year. If you need assistance, I can handle the filing for you.
📌 Corporate Annual Meetings: A Legal Must
Under G.L. c. 156D, all corporations—including those with just one shareholder—must hold an annual shareholder meeting.
While the report doesn’t need to be complex, it should include:
✔ Attendees
✔ Discussion points
✔ Any votes taken
Even if it’s just a formality, maintaining proper records ensures your corporation stays compliant and legally protected.
📌 Beneficial Ownership Information Report & the Corporate Transparency Act
The Corporate Transparency Act (CTA) has hit a legal roadblock. A Fifth Circuit panel has vacated its enforcement, and further hearings are scheduled for March 25, 2025.
Do you still need to file? Technically, no. But Attorney Bombard and I recommend filing it anyway to stay ahead of any future rulings.
✅ It’s free
✅ It takes just 10 minutes
✅ It ensures you’re prepared for any legal developments
📌 Contract & Agreement Review: Protect Your Business
Your business evolves, and so do its risks. A yearly contract review ensures that your partnerships, vendor agreements, leases, and client contracts remain:
✔ Legally sound
✔ Up-to-date
✔ Aligned with your current business goals
A proactive review helps identify potential vulnerabilities before they become costly problems, giving you peace of mind and allowing you to focus on growth and innovation.
💬 Need Help? Let’s Talk
If you have questions about compliance, corporate filings, or contract reviews, feel free to reach out. Staying ahead of these requirements ensures your business remains legally protected and primed for success in 2025.
Let’s keep your business strong and compliant this year! 🚀