A PRIME Corporate Services Guide Forming an LLC in The Empire State
New York is a thriving and bustling place to be if you are looking to form a new LLC. This state is an ideal place for business owners as opportunity and success lie within and around New York City, the most populous city in the nation. New York contains the third largest economy in the United States and tenth largest in the world. Interested in learning more? Read on to learn more about registering an LLC in New York.
(You can learn all the steps to start a successful LLC in New York right here. Or skip ahead to the good stuff and let us help—reach out to one of our PRIME advisors for a free consultation.)
Forming an LLC in New York: Seven Simple Steps
There are several government-based informational resources on how to form an LLC in New York. With so much information available, we have simplified the process of forming an LLC down to seven easy steps:
- Choose the name for your New York LLC
- Decide if you will use an additional registered agent (New York’s Department of State is automatically listed as the agent for all New York LLCs, but you can select an additional registered agent).
- File paperwork for the Articles of Organization
- Publish announcement of formation in local newspapers
- Create an operating agreement
- Register for an EIN
- Complete ongoing legal obligations for the LLC
Registering an LLC in New York Step 1: Choose the Name
Creating the name for your LLC is one of the most important steps to forming your business. Your LLC’s name serves as the first impression of your business’s brand and conveys a sense of your desired image. In the state of New York, there are two requirements to consider when coming up with a name.
- The name must differ from other businesses filed with the New York Department of State Division of Corporations.
- Your company name must contain the full word or abbreviation of “Limited Liability Company”, “LLC”, or “L.L.C.”
As long as you follow these criteria, it is time to create a name! Make sure to be creative and create a company name which corresponds with the values and goals of your LLC. A Name Reservation Request form can be filed for a $20 fee.
*Note—although the business name is important, it’s ok if you choose a name now and later decide that you want to expand to new markets or do business under another name. A DBA allows you to legally operate your business under multiple names. You can check out this article for more information about DBAs, or schedule a consultation with a PRIME advisor for more information.
Registering an LLC in New York Step 2: Designate Your Registered Agent Status
To form an LLC in the United States, it is required that a registered agent be designated to file legal documents and to serve as the business’s representative. In New York, the Department of State automatically serves as every LLC’s registered agent. A mailing address must be provided to the Department of State in order to forward legal documents to the LLC. If desired, an additional registered agent can be hired to receive documents and act as an intermediary between you and the Department of State. This extra registered agent can be you, a friend or family member, or a professional registered agent.
If you have questions, you can schedule a consultation with a PRIME advisor for more information.
Registering an LLC in New York Step 3: File Paperwork for the Articles of Organization
New York’s Department of State requires new LLCs to file Articles of Organization. The two modes of filing are via mail or online, and state filing fees for the Articles of Organization are $200.
There are two categories of filing: local and foreign. Foregin LLCs are those formed in a different state who plan to do business in New York. In addition to filing an Articles of Organization form, foregin LLCs must make sure they follow steps two and three and file an additional Application for Authority to Register a Foreign Limited Liability Company. The fee for an Application for Authority is $250.
Registering an LLC in New York Step 4: Publish Announcement of Formation in Local Newspapers
An LLC must publish a notice announcing its formation, or a copy of its Articles of Organization, in two newspapers during a 120 day period following the LLC’s Articles of Organization. The newspapers will issue the LLC affidavits of publication alongside a Certificate of Publication; these must be filed with a filing fee of $50.
Registering an LLC in New York Step 5: Create an Operating Agreement
New York state law requires an LLC to file an operating agreement 90 days after filing its Articles of Organization.
The three recommended factors in an operating agreement include:
- Defining the roles and responsibilities of those running the LLC
- Detailing how the LLC will operate
- Describing the LLC’s business structure
This agreement is useful in case of future legal disputes or difficulties. Having trouble where to start? Operating agreement templates can be found online, or our advisors can help.
Registering an LLC in New York Step 6: Register for an EIN
All LLCs require an Employer Identification Number (EIN) from the IRS. EIN’s can be used to open accounts and file/pay taxes.
There are multiple options to obtain a New York EIN without a fee:
- Call the IRS and register via phone
- Apply through a SS-4 Form and fax to 859-669-5760
- Mail the SS-4 Form to the IRS
- Apply through the IRS website
Registering an LLC in New York Step 7: Complete Ongoing Legal Obligations for the LLC
Once you take the steps to form your business, there are ongoing actions needed to fulfill long-term LLC requirements.
These requirements include:
- Paying yearly taxes
- Obtaining business licenses
- Filing a corporation franchise tax return
For more information or to begin the process of filing an LLC in New York, our PRIME advisors recommend browsing New York Government’s website, particularly their page titled, “Forming a Limited Company”. This will help you ensure you have all your bases covered. We also have extra resources on our blog, and we’re always happy to speak with you on a free consultation.
Registering an LLC in New York: FAQs
Where do I go to obtain a permit for my LLC?
Filing an LLC in New York begins at the state government’s website, www.ny.gov. The page “Articles of Organization for Domestic Limited Liability Company” contains all of the necessary information about licenses and permits for the state.
What are the filing fees for LLCs in New York?
The minimum total for filing fees in New York is $250. Articles of Organization with the Department of State has a $200 filing fee alongside an additional $50 fee to file the Certificate of Publication. For Foreign LLCs, an Application for Authority has an additional $250 filing fee, and the optional Application for Reservation of Name charges a $20 filing fee.
Where do I register my New York LLC?
An Articles of Organization (the DOS-1336) can be registered online, or you can print and fill out the form and send it to the Department of State, Division of Corporations, State Records and Uniform Commercial Code, One Commerce Plaza, 99 Washington Avenue, Albany, NY 12231.