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Setting up a NY corporation doesn’t have to be complicated. We’ve created this straightforward guide to get you started.
Want Incfile to do the work for you? We make starting a New York S Corporation or C Corporation fast and easy.
Briefly, the benefits of forming a New York corporation are:
A New York S Corporation or C Corporation will protect your personal finances and assets by limiting your liability.
If you want to pay less self-employment tax, a New York S Corporation can save you money.
NY S Corporations give you some options for creating, transferring and selling stock.
For more options to create, buy, sell or transfer stock (including publicly), a New York C Corporation is the option you need.
If you don’t need the options for buying and selling stock, a New York LLC may be a better choice for your business. You can even have your LLC treated as an S Corporation for tax purposes to save you money.
You will need to choose a unique, distinct, original name for your New York corporation
This name cannot be used by or confused with another business in New York
The name of your business must end with “Corporation,” “Incorporated,” “Limited” or an abbreviation of one of these
Every New York State S Corporation or C Corporation must have a designated street address. That could be your home address (if you’re running the company from your residence), your company’s office building or any physical address of your preference. The address can be outside NY, but it cannot be a P.O. Box.
Every New York corporation must have a “Registered Agent” who receives official legal and tax correspondence and has responsibility for filing reports with the New York Department of State. Your Registered Agent must have a physical street address in New York.
A Registered Agent position for a New York S Corporation or C Corporation can be filled in several ways.
A Registered Agent could be you, a director or an officer of the corporation. The New York Registered Agent for your corporation must have a physical street address in New York. They need to be available during business hours to receive important documents for your corporation.
Here at Incfile we always recommend using a proper New York Registered Agent service since they provide several benefits:
Some people establish companies outside of the state they live in and will use a Registered Agent service to provide an address for receiving legal documentation in the state.
The Registered Agent address is listed in public records on the department of state website. If you do not want your own name and New York address to be registered, you should use a Registered Agent service.
The Registered Agent must be present or available during normal business hours (9 a.m. to 5 p.m. Monday to Friday) to receive any legal correspondence, since the type of documents delivered to the Registered Agent require a signature on delivery.
At Incfile, all of our packages include a New York Registered Agent service that is free for the first year and just $119 per year afterward. We also have a dashboard where you can log in and easily view any document your Registered Agent has received on your behalf.
The legal document required to create your new corporation is called the “Certificate of Incorporation.” You will need to gather various details for your New York filing with the department of state including:
The corporation’s name
The corporation’s mailing address and street address
The corporation's Registered Agent and their address
The name and address of the incorporator
Once your Certificate of Incorporation document is drafted, you can file it with the New York Department of State. Filing your Certificate of Incorporation creates your New York corporation. You can do this online, mail in a form or have Incfile do it on your behalf.
Once your New York corporation has been created, you will need to get certain legal requirements in place. These include:
File IRS Small Business Tax Election Form 2553 if you want your NY business to be treated as an S Corporation. Any New York S Corporations formed through Incfile will also include a prepared Form 2553 that will be delivered with the state formation documents.
Create and issue stock certificates to your shareholders.
Apply for business licenses and permits. You may require licenses from the state of New York, your county, township and various industry or federal bodies.
File for taxes with New York Department of Taxation and Finance.
Get all formalities in place for employees, including unemployment, disability, payroll, insurance and taxes.
Appoint a Board of Directors for the corporation.
Appoint officers to the corporation.
Get a corporate records book to capture all your important corporate information.
A regular New York S Corporation or C Corporation is suitable for almost all business needs, but you also have a few other options to incorporate a special type of corporation.
Some states, including New York, allow certain occupations to form “Professional Corporations.” These types of corporations may need special requirements and licensing. NY State does not list the specific professions that can form professional corporations, although the name of the corporation must end with the words “Professional Corporation” or the abbreviation “P.C.”
A “foreign” filing is when you have a regular, domestic corporation in a state (typically the one where you first formed your business) and need the company to be able to operate in another state. This is where you would file a “Foreign Qualification” to the new state for your domestic corporation to be able to operate in both states. You must have an existing domestic corporation before you can file as a foreign corporation.
Incfile provides a cost-effective service to help you create your corporation. We guide you through the process and handle most of the administrative steps on your behalf, such as filing your Certificate of Incorporation. Our packages also provide a free Registered Agent service for the first year. If you're looking for assistance forming a corporation, we can help you start a NY S Corporation or C Corporation.
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|State Fee||State Filing Time||Expedited Filing Time|
|$130||5 Business Days||1 Business Day|
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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