Limited Liability Companies offer attractive business structures, restrict liability risk for members, and reduce tax burdens that corporations face. Due to these benefits, and others, many business owners opt to form an LLC in New York.
Setting up an LLC in New York is a routine process, involving plenty of steps and paperwork. Our guide below outlines what this process entails but Corporate Creations can ease the burden that comes with forming your LLC, and handle everything for you.
There are six main steps required to set up your New York LLC.
Information to put in your operating agreement includes the following:
... and additional information, such as profit and loss distribution and other provisions and procedures.
Filing online directly with the New York Department of State is not a possibility; however, by working with us, we provide you with a fully online experience. You can send us all the necessary information digitally, and we’ll take it from there.
By handing over your formation to us, we’ll deal with the time-consuming paperwork on your behalf. By limiting the amount of time spent on paperwork, you can focus on other important business priorities as you set up your LLC.
Each state differs slightly in terms of LLC formations. You’ll be supported by a team of experts who understand the nuances of setting up companies in New York, and who have previously dealt with the Department of State, ensuring your registration is seamless.
Support doesn’t have to end with the formation of your business. You can continue to partner with us to support you with other business needs; we can serve as your trusted registered agent and oversee DBA renewals.
New York is an extremely desirable location to start an LLC despite the state’s high filing fees. By starting your business in New York you benefit from a strong economy, a range of potential investors, and a large talent pool. As your business grows, New York is a great place for your business to be based in due to its global influence which provides access to international markets.
While the fee to file the Articles of Organization is $200, there are a lot of other fees that come into play when starting an LLC in New York, such as appointing a registered agent, reserving a business name, and getting professional assistance with drafting the operating agreement. The cost can quickly add up, especially if working with multiple providers. Corporate Creations can assist with all aspects of your LLC formation and offers a simplified pricing plan.
To find out information about another business in New York, you can use the Corporation and Business Entity Database on the Department of State, Division of Corporations webpage. You can search for a business by its entity name, DOS ID, assumed name, or assumed name ID. While this database does show assumed name filings for businesses in New York, it’s not advisable to use the system to determine whether a business name is free since the accuracy of its data relies on the information provided to it. If you want to reserve a name or find out whether a business name is already in use, get in touch with Corporate Creations as we can assist.
LLCs in New York must file a biennial report every two years, on the anniversary of their formation month. Reports consist of basic information including the principal business address and the registered agent address. If you don’t file a biennial report, your LLC could be marked as past due, which can lead to non-compliance and eventual dissolution. To avoid facing the potential consequences of not filing, Corporate Creations can handle your biennial report filing requirements with our annual report services.
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