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The business trust made its debut in Massachusetts in 1827. As a result, a U.S. business trust today is often called a "Massachusetts trust" in legal circles. The U.S. Supreme Court defined the Massachusetts trust as a form of business organization, common in Massachusetts consisting essentially of an arrangement whereby property is conveyed to trustees: in accordance with terms of the trust.
The primary characteristic an LLC shares with a corporation is limited liability, and the primary characteristic it shares with a partnership is the availability of pass-through income taxation. As a business entity, an LLC is often more flexible than a corporation and may be well-suited for companies with a single owner. [5]
A low-profit limited liability company (L3C) is a legal form of business entity in the United States. [1] Commonly referred to as a hybrid structure, it has characteristics of both for-profit and non-profit entities. [1]
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The Massachusetts Superior Court (also known as the Superior Court Department of the Trial Court) is a trial court department in Massachusetts. The Superior Court has original jurisdiction in civil actions over $50,000, [ 1 ] and in matters where equitable relief is sought.
If other locales are anything like Massachusetts, the high-profile hubbub around sex-buyer busts could be masking a situation in which sex workers are still the main locus of prostitution punishment.
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