The Empire State is a fantastic place to build the company of your dreams. A combination of rich cultures, diverse cities and a very healthy economy makes New York State a center of opportunity. New York State is the fourth most populous state in the union, with very strong industries in the technology, finance, investment, media, entertainment and tourism sectors.
If you want to start your own business in New York, one of the best ways to do so is by forming a New York LLC. Limited Liability Companies (LLCs) are a business entity designed for startups and small- and medium-sized businesses. New York LLCs give you many of the protections and advantages of larger corporations without all the rules, regulations and compliance issues common to larger business entities.
Briefly, the benefits of starting a New York LLC include:
Separating and limiting your personal liability from your business liability and debts
Quick and simple filing, management, compliance, regulations and administration of your New York LLC
Easy tax filing and potential advantages for tax treatment
Learn more about the benefits of the LLC business structure here.
This guide has plenty of information on how to form your New York LLC, but you can break down the basics of forming a business in NY into just a few simple steps.
First, you need to gather basic information about your LLC, including the names and addresses of the managers or members. The LLC members are typically the people who own and run the business. They are also the ones who can take profits out of the business to pay themselves.
You will need a distinctive and original name for your New York LLC that’s not used by any other business in NY. To find out if another company is using your chosen business name, carry out a New York business entity name search on the NY Department of State website.
There are a few rules you’ll need to follow when choosing an LLC name. You can find out more in our guide to searching for and naming your New York LLC.
Every New York LLC 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 the state of New York, but it cannot be a P.O. box.
Every NY LLC must have a “Registered Agent” when it is formed. This is an official position; the Registered Agent is someone who receives official legal and tax correspondence and has responsibility for filing reports with the New York Department of State.
This position can be filled by you, another manager in the business or a dedicated Registered Agent service. Your NY Registered Agent must have a physical street address in New York and must be present to receive important documents for your company during business hours.
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.
You will need an EIN to identify your business to the IRS. You use this number when filing and paying taxes or when submitting payroll information and payments for your employees. You can obtain one directly from the IRS, or we can get one for you as part of the New York LLC business formation process.
Once you've gathered all the information together for your New York LLC, you’ll need to file a formal document with the NY Department of State. This document is known as your “Articles of Organization,” and filing the document creates your New York LLC. Here’s what is typically included:
Your business name and address
Details of your Registered Agent
Name and address of the incorporator
You can file your New York LLC Articles of Organization online, mail in a form or have Incfile do it on your behalf. There is a fee to file and start an LLC in New York. You only need to file your Articles of Organization once.
The NY Department of State has plenty of information on forming and running a business in New York.
These are all the basic steps for forming an LLC in New York. You’ll find other useful information below.
A regular New York LLC is suitable for most business needs, but you also have a few other options to incorporate a special type of LLC.
Some states, including New York, allow certain occupations to form “Professional LLCs.” These types of business typically have specialized requirements and licensing. The New York Department of State does not list the specific occupations that can form a Professional LLC, but you can check with your federal or state authority for your profession.
If your business is already operating in another state and expanding to New York, you’ll need to form a foreign LLC.
You’ll find plenty more insight and guidance on the other pages of this guide, including:
How to search the New York business registry of the NY Department of State and find the right name. Includes information on naming rules, fictitious names, reserving a New York LLC name and more.
How to appoint a New York Registered Agent to your new LLC or change to a different Registered Agent. Includes information on Registered Agent rules and searching for New York Registered Agents.
How to understand the various fees you’ll need to pay and the requirements you’ll need to meet for both federal and New York rules. Includes details of Employee Identification Numbers (EINs), New York and federal business licenses, New York annual reports and more.
How to understand the various taxes you will need to pay to the federal and New York government. Includes details of federal taxes like income and self-employment and New York taxes like sales tax and income tax.
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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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