1. Choose a Name for Your New York Limited Liability Company
Check for an Available Name for the LLC in New York: Choose a name for your Limited Liability Company. Check to be sure that you have chosen a name that is not in use by another LLC by searching online databases and other records. You can search the database on the official website of the New York Secretary of State to see if the name that you have chosen is available in New York: New York LLC.
Reserve a Name for Your New York LLC: In New York, it is not required to reserve a name in advance. However, consider reserving a name for your LLC if you cannot file Articles of Organization right away. You can find the name reservation application online at New York LLC. The name that you submit will be reserved for 60 days. You must pay the $20.00 filing fee.
Filing for Trademarks Protection and Doing an LLC Name Search: When searching for an available name for your Limited Liability Company, you may find that the name that you want to use is available in New York but in use by an LLC in another state. Your use of the name that you have chosen may be restricted. An attorney can advise you on how these restrictions may affect you and how you can take steps to trademark the name of your company. You can learn more about choosing a name for your LLC at how to choose a name for your llc.
New York LLC Name Requirements: In New York, LLCs must have the designation "LLC," “L.L.C.,” or "Limited Liability Company" as part of the name. “LLC” stands for “Limited Liability Company,” not “LLC Corporation, “Limited Liability Corporation,” or anything else that signifies a corporation. LLCs are organized differently than corporations are.
2. Find a Registered Agent in New York
You must choose a registered agent to act as an agent for service of process for your New York LLC. The registered agent that you choose will receive tax forms and other legal documents for your LLC. There are corporate services companies that provide registered agent services to LLCs for a fee of around $75.00 to $150.00.
3. File Articles of Organization with the New York Secretary of State
Minimum Requirements for the Articles of Organization: The Articles of Organization that you file for your New York LLC must include the name of your LLC, the county where your office will be located, and the name and address of your registered agent. The Articles of Organization must be signed by the organizer and include the address of the organizer. You can find a fillable form for this document online at New York LLC.
Other New York Legal Provisions: Think about including additional provisions in your Articles of Organization. A lawyer can advise you on which additional provisions are the most important for you to include.
Where to Submit the Articles of Organization for Filing: You should send your signed Articles of Organization document to the New York Department of State, Division of Corporations, One Commerce Plaza, 99 Washington Avenue, Albany, NY 12231.
Filing Fee: The fee to file Articles of Organization in New York is $200.00.
4. Form a New York Limited Liability Company Agreement (Operating Agreement)
After filing your Articles of Organization document, you can create an LLC Agreement to govern the LLC and actions between the members of the LLC. The specific details of your LLC Agreement will depend on many factors. The limitations on the scope of your business, the number of anticipated members, the way that capital will be invested, the organization of the members, the voting requirements, the powers of the managers and executives, the way that interests may be transferred, and the way that money will be distributed among the members are all factors that you may want to address in your company’s LLC Agreement. You may also want to include provisions that lay out what will happen if you decide to dissolve the company or incorporate one day. LLCs are formed for various purposes. The purpose of your LLC will affect the details of your LLC Agreement. The LLC Agreement for an LLC that was formed to run a retail store will be different than the LLC Agreement for an LLC that was formed to run a real estate holding company. It can be complicated to write an effective LLC Agreement. It is best to seek the counsel of a lawyer and an accountant so that you can create an LLC Agreement that is in compliance with all state requirements and federal tax laws.
Along with creating an LLC Agreement, you will need to make securities filings for your LLC, obtain an EIN from the IRS, and obtain a business license in the city where you will be doing business. There are corporate services companies that provide assistance with these types of filings for a fee. You can visit our online guide at http://www.cityapplications.com/business-licenses.html to learn more about how to get a business license in your city.
5. Qualify Your New York LLC to Do Business in Other States
When preparing to do business in other states, you must qualify or register your LLC. You must qualify your LLC to do business in your home state if the main office of the company is located in another state. You will usually be required to pay taxes in your home state when you do business in other states. You can visit [Qualifying to Do Business in Other States] to learn more about how you can qualify your LLC to do business in other states.
6. Make Annual Filings and Pay Annual Taxes in New York
The state of New York requires a biennial report from all LLCs. A biennial statement form will be mailed to you with the information necessary for you to file this report online. You can find a link to file your biennial report online at New York LLC. There is a fee of $9.00 to file this report. The state of New York also requires you to file a tax report and pay taxes every year. You can find tax forms online at the official website of the New York Department of Taxation and Finance: New York LLC.
It can be complicated to form a New York LLC. However, if you seek the counsel of an accountant and an attorney you can have more confidence that an LLC is right for you and that all your paperwork will be processed correctly.
This article is for informational purposes and does not constitute legal, financial or tax advice. This information is derived from various sources and should not be relied on as an official source of information. All information should be independently verified. You should consult a legal or accounting professional before incorporating your business.
Disclaimer: This site is for informational purposes only and does not constitute legal, financial or tax advise. The information on this site should not be relied upon as an official source of information and should be independently verified.