220 CMR, 52.101
This account shall include all fees paid to governments for the privilege of incorporation, and all office and other expenditures incident to organizing the company and putting it in readiness to do business. This covers the cost of preparing and distributing prospectuses; cost of soliciting subscriptions for stock (but not for loans or for purchase of bonds or other evidences of indebtedness); cash fees paid to promoters and the actual cash value at the time of organization of securities paid to promoters for their services in organizing the enterprise; counsel fees; cost of preparing and issuing certificates of stock and cost of procuring certificates of necessity from State authorities, and other like costs. This account shall not include any discount on securities issued, or any costs incident to negotiating loans or selling bonds or other evidences of indebtedness. Any amount charged to this account should be amortized within a reasonable period.
220 CMR, 52.101