how to create llc new york [Detailed Response]

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Last updated : Sept 22, 2022
Written by : Tijuana Hoftiezer
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how to create llc new york

Comment by Tristan Leonardi

in this video I'm going to explain how to form a New York LLC in eight easy steps I'm Priyanka Prakash senior staff writer and small business expert at fund ara an LLC can be the perfect legal structure for a small business it offers tax advantages flexible management options and liability protection in one package so how can you take advantage of these benefits keep listening I'll cover the rules in New York for setting up a new LLC as well as operating an existing LLC in New York step one is to choose a name for your LLC this is probably also the funnest part of forming your new business you'll need to get a little creative and choose a name for your New York LLC that hasn't already been taken by another registered business entity your business name must end with LLC with or without periods or limited liability company and unless you've received permission from the state of New York you cannot include certain words in your LLC's name that could mislead customers such as bank or insurance the New York Department of State's division of corporations has a full list of restricted words on their website and to make it easier to find an available business name the Department of State also has a searchable online business name database if a name that you like is available you can reserve it for up to 60 days by mailing a hard copy of an application for a reservation of name to the Department of State unfortunately this is not something you can file online in New York however you can find other important information such as filing fees and filing addresses on the Department of State's website now once you have a legal name for your LLC the state requires you to conduct business only using that name if you use another trade name in marketing for example you'll need to mail a certificate of assumed name form to the Department of State step 2 is to provide an address for receiving official business mail the registered agent for every New York LLC is automatically the New York Department of State this means that if your business is sued receives an important tax notice from the IRS or other government Mail the Department of State will be the first to know and they'll forward those papers to you in your LLC's articles of organization which we'll talk about in a minute you'll need to provide the address to which the Department of State should forward that paperwork this is typically your business's primary address or principal place of business just to make things really clear many other states require you to name an official registered agent but this is not true in New York the New York Department of State automatically serves as your registered agent and you just need to tell them where to mail copy of any documents they receive steer clear of companies that claim that you need to name another registered agent in New York they're probably just trying to take more money from you step 3 is to file your articles of organization with the Department of State this is also the step that makes your business official in order to complete the articles of organization you'll need your LLC's official business name address and the signature and name of the person completing the form you can submit your articles of organization by mail or file online in business express NY gov the articles of organization come with a filing fee so make sure you have a check or credit card handy as well if your articles of organization are accepted the state will send you a filing receipt within about seven business days you should store this receipt with other important business records step four is to obtain New York business permits probably comes as no surprise that the state of New York places a lot of regulations on business many types of businesses require professional licensing from the state including real estate agents health care professional security guards barbers and childcare businesses just to name a few depending on the type of business you have you might also need sales tax permits zoning permits and environmental permits to help out the Department of State as a handy tool called business express put in details about your business and you'll get a checklist of regulations that you have to come live in a list of permits that you have to obtain for example here are details for launching a restaurant LLC in New York City Step five is to publish notice of your LLC's formation New York is just one of a few states in the country that require new LLC's to publish notice of formation in a local newspaper within 120 days after filing your articles of organization you'll need to publish in to local newspapers a copy of the articles of organization or a notice saying that your LLC was formed you'll have to do this once per week for six weeks in a row the newspapers should run in the county in which your businesses main New York office is located once the six weeks is up the publisher of each newspaper will give you an affidavit of publication you'll need to attach those affidavits to a form called the certificate of publication and submit that to the Department of State you can download the certificate of publication from the New York Department of State's website but you must mail the form with a filing fee no online filing is available here either step six is to create an LLC operating agreement New York is also one of the few states that require LLC's to have an operating agreement an operating agreement outlines how your LLC will be managed and contains information on each owners responsibilities profit share and voting rates this is an important document that will help prevent disagreements among owners in the future and it provides a blueprint for how your business will be run on a day to day basis step 7 is to keep your LLC active the most important part and keeping your LLC active is to pay taxes individual LLC owners in New York have to pay personal income taxes on their share of the LLC's income in addition New York State assesses an annual filing fee on most single-member and multi member LLC's this annual fee ranges from about twenty-five dollars to forty five hundred dollars depending on the income from your LLC the tax is due on the 15th day of the third month following the close of the tax year that's March 15th for most New York LLC's there are also other steps you should take to keep your LLC active such as opening a separate business bank account and using a business credit card that's dedicated for business purchases only step aid is to comply with federal requirements New York LLC's have to follow both state and federal requirements for example this means paying federal taxes on time and if you employ workers getting a federal employer identification number or ein you'll need your EIN when filing federal taxes and for other business transactions like opening a business credit card and that's it those are the eight steps to forming an LLC in New York if you want more of this process taken off your hands consider using an online business formation Service Inc file we'll help you form your LLC for free you just have to pay state filing fees which you

Thanks for your comment Tristan Leonardi, have a nice day.
- Tijuana Hoftiezer, Staff Member

Comment by julsiobibully7

The points in the month of Char's insurance were written in the story n The

Thanks julsiobibully7 your participation is very much appreciated
- Tijuana Hoftiezer

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