Friday, December 31, 2010

Today

Well today marks the last day of Capescapes Jewelry, LLC.  The costs of renewing an LLC in MA is over $500 a year - more than it costs an incorporated business to renew - and it has been a major struggle to do that.  Last year, I would have turned a small profit for my business if not for the LLC renewal.

How LLC's are handled in MA speaks volumes about how little this state seems to care about small businesses.  The point behind an LLC was to offer a legal business registration that would be available for single owner businesses that was not suppose to be as cost prohibitive as incorporating.  It is suppose to protect a small business owner and their personal assets if something goes wrong with the business - like a law suite by a customer.  I understand now why so many artists in this state have never gone this route and have instead remain DBAs (Doing Business As) and risk the IRS auditing them because what they do is a "hobby".

My accountant was one of the few Republicans voted into office here in MA this last election as our local representative to the state legislature.  I hope he remembers his promise to me to address this issue.  We need to do everything possible to help small businesses right now and how LLC renewals are handled - including a $20 fee for submitting your renewal paperless!  I just learned that in VT, to renew your LLC it costs a total of $20!  Something is not right with this picture my friends of the Commonwealth!
I will continue to use this blog to inform and comment on working artists and on subjects like metal clay, and jewelry making as I will still continue my art work - but now it will only be for myself, friends and family as gifts.  Maybe some day I will return to being a working artist because I would love to make at least part of my living by doing something I love.

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