If you want to form a corporation in New York, there are certain forms, requirements and legalities you must have in place.
Below is a rundown of what you’ll need to do, together with information on the requirements for your New York corporation. Some of these forms you only need to submit once, while others must be filed on a regular basis.
You will need to set reminders in your calendar to file forms regularly if you're filing yourself. At Incfile, we provide an optional, paid renewal service and can take care of certain renewals for you when you instruct us to do so.
The Certificate of Incorporation is the formal document filed with the New York Department of State to create your corporation. It provides certain information about your business. Once the document is filed with the Department of State, it legally creates your business as a corporation in New York. Here’s what is typically included:
Here at Incfile, we automatically create and file your Certificate of Incorporation on your behalf when you start your business with us. You only need to file your certificate once. There is a fee levied by the Department of State of New York to cover your filing.
Depending on the type of New York business you’re running, you will need to obtain various business licenses and permits. These are not required to form your corporation, but you must have them to legally carry out business. It’s vital to understand the permits and licenses required for your business to operate in compliance in your jurisdiction.
Various cities in New York have slightly different rules and fees for permits and licenses. Check with your local New York city administration to see what their rules are. You will need a separate permit or license for each city your New York corporation operates in.
Depending on the type of business you are running, you may need to get additional permits and licenses from the county or state of New York. You can get an idea of the types of permits and licenses you might need from the State of New York website.
Depending on the type of New York business you are running, you may need to get licenses and permits from the federal government and various national agencies. You can find a complete list on the U.S. Small Business Administration website.
Because permits vary depending on the type of business you are operating and where you are located, we provide a comprehensive Business License Research Package. It’s designed to tell you all of the licenses and permits necessary for your new corporation. It includes:
Your customized Business License Research Package will be emailed to you within two days of your company being filed by the state. Remember that operating your business without the required licenses can expose you to compliance risks and fines from state and local governments.
Because you’re forming a corporation, there are certain other legal, regulatory and compliance areas you need to meet.
Create Bylaws for Your New York Corporation
Bylaws are the formal, internal rules that your corporation must follow to stay active. You will need to create and agree to bylaws in certain areas.
Ownership in a corporation is expressed through the issuance of shares. You must create stock certificates and formally issue stock to any agreed initial shareholders in the corporation.
You must appoint directors to all positions in line with the agreed corporation bylaws. The board of directors is responsible for the strategic direction and overall management of the corporation. The board selects officers who will manage the day-to-day activities of the corporation.
Officers are the individuals who manage the corporation on a day-to-day basis. At a minimum a corporation should have a president, vice president and treasurer. Theoretically, one person could hold more than one position.
You should acquire a new corporate records book. You will use this to capture all of the important information for the corporation. This includes your Articles of Incorporation, corporate bylaws, meeting minutes, AGM details, directors, officers, stock certificate information, transfer documents and more.
You may need to hire additional employees for your New York corporation. You will need an Employer Identification Number (EIN) to do this. You may also need to get Worker’s Compensation Insurance and General Liability Insurance.
You must hold a yearly meeting that all directors, officers and shareholders of the corporation are invited to. The purpose of an AGM is generally to:
You will need to register for certain taxes when you form your corporation. These include:
You can find full details on the New York Department of Taxation and Finance website.
You must file a report every two years with the New York Department of State. If you do not file your report every two years, you will be charged a late fee and your corporation may be dissolved. Here at Incfile, we can file your biennial report on your behalf.
As you can see, there are several forms and permits you need to submit to conduct business, both initially and on an annual basis.
You may need a Certificate of Good Standing for certain business-related services like opening a bank account. You can order one from us and we will also send you courtesy emails when your compliance due date nears.
Incfile provides a cost-effective service to help you create your New York corporation. We guide you through the process and handle most of the administrative steps, such as filing the necessary forms on your behalf.
Our basic package also provides a free Registered Agent service for the first year. If you're looking for help starting an S Corporation or C Corporation, our comprehensive services provide outstanding value.
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|State Fee||State Filing Time||Expedited Filing Time|
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This report is mandatory and must be filed within the specified time frame in order for the entity to remain in good standing with the state. Failure to file this report can lead to the company being revoked or administratively dissolved.
Due Date: During anniversary month of organization.
Filing Fee: $9
Important: Section 206 of the New York State Limited Liability Company Law requires that within 120 days after the effectiveness of the initial articles of organization, a limited liability company (LLC) must publish in two newspapers a copy of the articles of organization or a notice related to the formation of the LLC. The newspapers must be designated by the county clerk of the county in which the office of the LLC is located, as stated in the articles of organization. After publication, the printer or publisher of each newspaper will provide you with an affidavit of publication. A Certificate of Publication, with the affidavits of publication of the newspapers attached, must be submitted to the New York Department of State, Division of Corporations, One Commerce Plaza, 99 Washington Avenue, Albany, NY 12231. The fee for filing the Certificate of Publication is $50.
(We do not assist in the filing of the Publication Requirement)
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