Creating an LLC in NY: Everything You Need to Know
Most important is selecting a unique name, and then submitting the required paperwork to the New York Department of State.3 min read
Creating an LLC in New York only requires a few steps. Most important is selecting a unique name, and then submitting the required paperwork to the New York Department of State.
- The first step in forming your New York LLC is to choose a name for the company.
- Next, you must decide who your registered agent will be.
- Additionally, you must file the Articles of Organization with the state.
- You will also need to complete the publication requirements.
- Finally, you must create an operating agreement and then obtain an EIN from the state.
Creating an LLC in New York – Everything You Need to Know
An LLC, or Limited Liability Company, is a business structure that allows for limited liability for each of its members along with the benefit of flexible organization. Members of an LLC include corporations, individuals, other LLCs, and also foreign entities. One of the benefits of forming an LLC is that there is not a maximum limit to members allowed.
LLCs are considered a hybrid type of business structure, as it carries with it some elements of a corporation and limited liability partnerships. A major benefit of forming an LLC is that you are able to limit your personal liability, meaning that obligations and debts along with other liabilities are legally separate from your own personal assets.
In the state of New York, there are few rules to running an LLC. The state does not require annual meetings or a board of directors. Another benefit to forming an LLC in New York is that it is easy to track and file taxes since any money that a New York LLC generates is just reported on your own personal tax returns.
Guidelines for Naming Your LLC
Before you select a name for your LLC, you will need to first do some research to make sure that the name you have in mind is easily searchable by your clients and that the name truly is well suited for your business venture. The name you choose must contain the words Limited Liability Company in some way, although it can be abbreviated to L.L.C or LLC if you prefer.
You will also need to confirm that the name you selected is not already taken. You can do a simple search on the State of New York website. Another thing you may want to consider is whether you'll be able to reserve a domain name and an email address related to your company name.
Ultimately, the LLC name that you choose must be distinguishable from other already-formed LLCs. It must be approved by state agencies, and it also is required to include certain words to be approved by the Department of State. Before you file your formation documents, you may also want to confirm that the LLC name you have chosen is available. To get official confirmation from the state that your selected LLC name is available, you must send written notice to:
Department of State
Division of Corporations
One Commerce Plaza
99 Washington Avenue
Albany, NY 12231
In your letter, you must include $5 for each name you want to have checked. Be sure to state clearly what name or names you are requested that the state check for availability.
What Are the Articles of Organization?
For your LLC to be fully registered and recognized, it is a requirement that you file the Articles of Organization with the State of New York. You can file the articles of organization online or by mail. This filing will require a non-refundable fee of $200, which will need to be paid to the Department of State.
To file the Articles of Organization for your LLC, you will need to use form DOS-1336 with the New York Department of State. You will be required to fill out the form to include all necessary information, including the LLC name, taxpayer identification number, registered agent address, and also any licenses and permits along with the member signatures.
The form DOS-1336 can be faxed to the New York Department of State at (518) 474-1418, or it can be mailed to:
New York State Department of State
Division of Corporations, State Records and Uniform Commercial Code
One Commerce Plaza
99 Washington Avenue
Albany, New York 12231
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