how much does it cost to open an llc in new york [New Data]


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Last updated : Aug 13, 2022
Written by : Darlena Herforth
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how much does it cost to open an llc in new york


Comment by Jean Bayless

in this video I want to talk about the costs associated with forming a New York State limited liability company a New York State limited liability company as of today we are in the 29th is the 29th of October 2019 so at the end of 2019 currently the fee is $200 to file your articles of organization with the state and then there is a $50 fee for the publication requirement which states that you have to publish the name of the LLC and the articles of organization in a newspaper in that County so it's $50 to put that with the state then you have whatever the newspaper is gonna charge you sometimes between 100 and 200 dollars but that's it those are the filing fees and then you may need you will need an EIN an employer identification number which is a $75 I think through the federal government but those are all the fees now if you have someone else file it there's gonna be fees in addition to that so keep that in mind a lot of people go online and they don't understand why across them one thousand two thousand dollars to file the articles of organization or start the LLC in New York well it's because you had somebody else do if you have someone else navigate the Department of State and all the forms and all the files they're gonna charge you more I don't charge that much book in charge more but the basic fees $200 for the articles of organization $50 for the publication fee another $75 to the ein number which is done later you don't need to do that right away and then you're gonna have to pay some newspaper anywhere between 100 and 200 depending on which newspapers but to publish that some times or more sometimes it's less it depends on what county you're in in the whole state but those are the general fees and then of course if you have someone else do it they're gonna charge you a fee for actually filing and doing the work for you but those are the basic fees don't get intimidated by I'll put some more information down here on some of the things you should look out for some other things where to find the form the article of organization form more information on the New York State website and more information on my website where I have a ton of information about limited liability companies what it means to be a limited liability company how to file yourself or how to have me Father okay if this was helpful to you guys share the video comment underneath or Tagg somebody if you think that they can use the information and if you guys need an LLC form then you don't have the time reach out to me I what's a businessman went to law so this is what I do full-time is I help executives and entrepreneurs form companies develop marketing plans and business plans and go from zero to hero in the business in the business world so if you need help hit me up if not have a great day we'll talk again soon


Thanks for your comment Jean Bayless, have a nice day.
- Darlena Herforth, Staff Member


Comment by Josef

ready to incorporate an llc in new york but unsure where to begin today you will learn about the most common ways to start your business including the correct forms you'll need how to register your llc critical naming requirements and all other important tips and tricks then as a bonus later on in the video i will reveal to you a trustworthy registered agent who will help set up your llc for free so make sure to stick with me until the end new york llc's are cost effective and easy to set up the state of new york like other states has several specific llc requirements there are three main ways you can start an llc in new york first is the diy or do-it-yourself process where you mostly depend on new york state's website the second way is hiring a professional service that practically offers more efficiency and security in a process of creating your llc while the third one is hiring an attorney we will skip the attorney hiring portion because that's expensive and most business owners won't need that service first let's take a look at the steps required for starting an llc on your own step one name your business before anything else you will have to think of the llc's legal business name each llc in new york must have a distinct llc name that is not currently in use you must include the terms limited liability company or an abbreviation such as llc you cannot include phrases such as a corporation which would lead people to believe you are a different business organization knowing if your business name is taken or not is very easy just go to google and type in the words business entity records new york secretary of state and click the first search result i also have the link in the description below for your convenience it will lead you to a landing page of business entity records in new york scroll down a little and you will see some search options which makes checking the availability of your business name easier generally you can click the first option entity name and type in your business name for example i am typing a very common business name here car wash express which will give you a list of existing business names a unique business name will say no matches found just like this random name i typed in keep in mind that the division of revenue doesn't check names for trademark compliance it's ultimately up to you and your business attorney to ensure that your llc's name doesn't infringe on any other company's rights step two new york requires llc to have a registered agent an agent has a physical address a po box is not allowed and is available during business hours this agent will serve as the llc's primary point of contact for receiving key legal papers tax warnings summons subpoenas and so on you can register yourself or someone in your company but i highly recommend getting a professional registered agent as they have more knowledge by protecting your company in cases of possible cracks while i agree that family members or friends are reliable enough to be trusted as your llc's agent you are more comfortable sleeping at night knowing that your agent is professional and trained to manage legal documents to avoid problems concerning court schedules filing reports with the secretary of state etc besides hiring a professional registered agent is not expensive in fact there are companies who offer a free registered agent as part of your package when you form your llc through them inc file is a company i recommend which has this free service inc file offers a free registered agent on your first year of signing up for their service during that free year you can already take advantage of a professional and trained agent to receive legal documents on your behalf a dashboard where you can always access the correspondence that your agent has received as well as email notifications and automatic forwarding whenever your registered agent receives documents step 3 filing the new york llc certificate of formation after that you must file the certificate of formation with the new york secretary of state's business entities division and the office of the judge of probate to officially incorporate a domestic new york limited liability company the new york state filing cost for llcs is 200 for both domestic llcs and foreign llcs what's the difference good question basically a domestic llc means that you are already a resident of new york and you want to build a business in new york foreign llc on the other hand is for people living outside new york but wants to start a business or a franchise of their business in new york with that said most businesses would be applying for a domestic llc you can file the certificate of formation online or by mailing it to the secretary of state expect the llc certification process to take approximately two weeks this is three to four days for the judge of probate and 10 days for the secretary of state step 4 prepare an operating agreement now an operating agreement is a good idea to have in place with the other members if your llc has more than one member although a limited liability company operating agreement is not necessary for new york your operating agreement should clarify how your company or business will handle big picture issues such as allocating earnings and losses and dissolving the company your operating agreement should also cover the transfer of membership interest profits or losses and distributions initial investments decision making powers voting rights and management and lastly dissolving the business why are operating agreements important a comprehensive operating agreement ensures that all business owners are on the same page and reduces the risk of future conflict step 5 obtain an ein an ein or employer identification number is a federal tax id issued by the irs your ein is used by them to readily identify your firm and tax filings all new york firms pay a business privilege tax and the state requires you to have an ein to file you may also be required to provide your ein when opening a bank account or applying for municipal permits or licenses obtaining an ein is a slightly longer process compared to their previous steps i'm sure you know anything to do with the irs is confusing first you have to have complete knowledge of your llc such as your company information managing member information business address business information company details and even critical information regarding vehicular assets and federal excise taxes this is another reason why getting a professional registered agent is way more convenient as they can do this for you as part of their service now let's talk about the second option to form an llc and that is hiring a professional formation service professional formation services do all the steps you should be doing on your own from filing necessary forms to acting as your registered agent you usually have to allocate a specific budget for this option as i already mentioned earlier inc file is one of the best companies out there to help you form your llc you can click on the link in the description to get access to this deal inc file is one of a kind as it offers a


Thanks Josef your participation is very much appreciated
- Darlena Herforth


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how much does it cost to open an llc in new york