An Act reducing filing fees for single member LLCs

This bill amends Massachusetts law to lower the annual report fee for single-member limited liability companies from $500 to $250, while keeping the initial filing fee at $500. It directly affects business owners who operate one-person LLCs in the state by reducing their recurring administrative costs. The change is implemented by updating the specific fee schedule in Chapter 156C to distinguish between single-member and multi-member entities.