LLC, Business License, Incorporation
New York remains one of our most popular states for incorporation and LLC formation. With the third largest population in the United States, New York has a thriving business community. Some of the largest U.S. companies, including Citigroup, Verizon Communications, and Merrill Lynch, maintain their headquarters in New York. This state also services many small businesses, particularly in major industries like finance and communication.
Ready to Incorporate in New York?
The New York Department of State regulates many issues related to business incorporation in New York. The government agency, for instance, requires choosing a unique name designating your organization as a corporation. incorporate.com will help you choose a name that has not already been selected by another business. We can also help you confirm that your business follows other regulations to expedite the incorporation process, allowing you to begin operating in New York as soon as possible.
Certification of Incorporation New York
Filing your articles of incorporation is one of the most important steps in the New York incorporation process. Your business's certificate of incorporation will include several key pieces of information. incorporate.com can be sure each document is filed in a timely manner, and that they conform to the predetermined formats expected by the Department of State. Your certificate of incorporation must contain several key pieces of information, including:
- The corporation's name
- Your organization's purpose
- County location
- The amount of stock the organization has made available to investors
- Mailing address or registered agent office
incorporate.com offers registered agent services in New York to properly and efficiently deliver any legal paperwork to you.
Many states ask for the names of your business's directors and officers. New York State, however, does not require this information.
Organizations filing their certifications of incorporation can expect to wait 15 to 20 days before getting a response from the Department of State. An additional fee can decrease the delay to one or two days.
New York Incorporation FAQs
How to incorporate in New York?
incorporate.com will complete several steps to help facilitate your organization's New York incorporation. In most cases, the steps are as follows:
- Choose a name that follows New York's regulations and has not been registered by another organization.
- File for your certificate of incorporation with the New York Department of State.
- Hold an organizational meeting to create bylaws.
- Request a Federal Employer Identification Number from the IRS.
- Apply for any business licenses or permits that you might need to operate in New York.
- Submit your organization's first report.
- Submit biennial reports to the Department of State.
- Pay incorporation fees. The fees in New York State vary depending on the specific type of corporation that you create. To form a professional service domestic corporation, for instance, you must pay a $125 filing fee plus a .05 percent tax for shares. The minimum tax on shares is $10 for a total minimum cost of $135.
Why incorporate in New York?
There are numerous reasons to incorporate in New York. Many businesses and nonprofit organizations choose to incorporate in New York because it affords easy access to a large population of consumers.
Many organizations also want to benefit from close contact with other businesses. A company that incorporates in New York is perceived as being local and thus may has better chance of forming partnerships with other organizations that excel in their industry. This often helps companies in computer science, medical science, communications, and other fields on the cutting edge of technology.
incorporate.com's experienced professionals understand the New York incorporation process, allowing you to set up your business quickly without spending more money than necessary. Your package will include any incorporation fees required by the state, simplifying the process of meeting industry regulations so you can start running your business as soon as possible with a modicum of paperwork-induced headaches.
A New York LLC has several advantages that can help it succeed. An LLC in New York State provides greater protection to investors from losing more money than they invest. Many companies, therefore, want to create LLCs that allow more partners to enter investment opportunities without risking excessive financial loss.
A business must complete paperwork, secure unregistered names, and pay appropriate fees before it can become a limited liability company in New York.
Forming an LLC in New York
In order to form a New York LLC, a business must complete Articles of Organization and submit them to the New York Secretary of State. incorporate.com will submit this on your behalf using the information provided to us online. The Articles of Organization must contain the LLC Name, the County location, and the LLC's mailing address or registered agent.
When choosing a name, it is important to find one that has not already been registered by another business. incorporate.com will review the name that you request and ensure that it is available and complies with New York's requirements. This helps to eliminate unexpected delays in the company formation process, saving your business time, money, and energy. A New York LLC operating agreement is not required by state law but it will help define each member's responsibilities for the business.
Typically, "LLC" or "Limited Liability Company" follows the organization's name. New York LLC filing restricts the use of certain words in LLC names. Words such as "legal services," "academy," "education," and "fidelity" are only allowed with the state's permission.
Some words and phrases are completely prohibited. A LLC in New York cannot use or include the following words in its business name:
- state police
- urban development
For a complete list of restricted and prohibited words, you can contact the New York Department of State.
New York LLC Tax and Fee Requirements
There are various New York LLC taxes and fee requirements that companies must pay. A $20 New York LLC fee is required when submitting the Application for Reservation of Name with the Department of State to hold the LLC name for 60 days so that no one else can obtain it. If a period longer than 60 days is needed, the Department of State may grant up to two extensions. Each extension will cost $20.
In addition to the $20 New York LLC fee, organizations must also file completed articles of organization to the New York Department of State. This process costs $200. It is absolutely necessary to submit the articles of organizations along with this payment to establish an LLC in New York.
According to Section 206 of the state's Limited Liability Company Law, all LLCs must publish information about their initial articles of organization in two recognized newspapers. After publication, you must send affidavits of publication and $50 to receive a Certificate of Publication.
incorporate.com includes all of the aforementioned fees and performs all of these services for you as part of its LLC service package. Entrepreneurs, sole proprietors, and partnerships interested in obtaining LLC status can rely on incorporate.com to complete these essential steps and pay the appropriate fees before the deadline on behalf of your business. As a result, your business can concentrate efforts on generating revenue and exploring new markets instead of trying to navigate the New York Department of State's complex bureaucracy.
Get New York Business Licenses
As the third largest state in terms of population, New York attracts businesses that want to compete in a wide range of industries. Before starting a New York business though, you must apply for the licenses and permits that state, city, and county agencies require for your industry. Many businesses must acquire some type of New York business license to operate legally within the state.
incorporate.com has helped many small business owners and entrepreneurs attain a business license in New York. Our decades of experience allow us to swiftly and seamlessly research the licenses and permits that you need. By allowing incorporate.com to complete this process for you, your business can avoid additional fines, fees, and delays.
Licenses and Permits That You Might Need
Depending on your industry, you may need more than just a New York City business license or a State of New York business license. If you work in transportation, for instance, your employees will need commercial driver's licenses. Other industries that require additional licenses and permits include:
- Food service
- Trash removal
It is important to research your industry's requirements to make sure you have the appropriate licenses and permits. Without them, you could face serious fines. The state or city could even stop your business from operating until you have the right documents in order.
If your business plans to operate in the city, then you will typically need a New York City business license, as well as one from the state. Some other cities in New York also require local permits and licenses. Contact your city manager's office to determine whether you need additional documents to operate legally in the area.
incorporate.com, of course, can complete these steps for you. That way, you can concentrate on developing your business rather than having to cut through bureaucratic red tape and hunt down the correct personnel to determine whether you have all of the necessary permits to operate.
Documents for a New York State Business License
Before applying for a New York state business license, gather the appropriate documents. Gathering the necessary documents beforehand will ensure that you receive all of the permits and licenses that you need to operate your business legally.
Other documents that you might need when applying for your license include:
- Your tax ID number
- Your business's insurance policies
- Any licenses required to operate machinery, vehicles, or other items.
You can begin the license application process once you have gathered these items.
After You Obtain a New York Business License
Once you obtain the appropriate New York business licenses for your industry, there should be little difficulty in keeping them current. Some licenses, however, might require additional training of you or your staff. This is to ensure that all employees within your business (and in an industry as a whole) have the right level of education to competently perform their duties.
If your New York State business license lapses, you may be subject to fines from the city or state. You will also need to reapply for your license rather than renew it. This can take weeks or months, especially if you need to pass an inspection before getting the license.
incorporate.com can help make sure that all permits and licenses for your business are kept current so that you never have to worry about unnecessary fines and delays at a crucial moment.
Too busy to research your licensing requirements? We can help.