The state recently started accepting business reports and documents online
Filing financial and legal documents with regulators will become easier
for businesses in Massachusetts as the state phases in a new Web site with
forms that can be completed online.
From business and trademark registrations to Uniform Commercial Code
and other submissions, businesses must file and update scores of reports.
"We couldn't keep doing it in the archaic method we were using before,"
said Secretary of the Commonwealth William Galvin. Staff members spent too
much time on data entry rather than quality control, he said.
Businesses can now submit annual reports to the Secretary's Corporations
Creditors soon will be able to record commercial liens through the site
to secure their interest in equipment, property or goods. The Corporations
Division processes more than 100,000 lien filings each year.
Creating electronic versions for all document types is expected to be
complete by the end of June, with fully searchable records available to
the public by the end of the summer. Corporations will be charged $8.50
to file annual reports electronically; UCC filings will cost $3.
Electronic Data Systems Corp. and the Massachusetts Information Technology
Division designed the system. State and company officials say it will enhance
the accuracy of records because the software will not accept information
that is incomplete or entered in the wrong field. Documents that are received
by mail will be scanned and handled through the same automated workflow
Florida and Georgia began online filing of annual reports a year ago.
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