NY LLC Search: Everything You Need to Know
NY LLC search refers to the search for limited liability companies (LLCs) in the state of New York.3 min read
2. How do I select a State in which to form a Limited Liability Company?
3. Why Search for a Limited Liability Company?
4. How to Do a Name Availability Search in New York State
NY LLC Search
NY LLC search refers to the search for limited liability companies (LLCs) in the state of New York. Generally, this is done through the Department of State, Division of Records in New York.
How do I select a State in which to form a Limited Liability Company?
This choice makes everything a little less complicated. You will have to pay and do less to make this happen successfully. Also, registering your LLC in your home state avoids additional franchise taxes and annual reports in more than one state.
Of course, a limited liability company can form in one state but do business in many states, as long as the limited liability company is registered and authorized in each state. However, this can be time prohibitive due to the number of annual reports to be filed (not to mention the annual fees) various permits, licenses and tax registrations.
If the limited liability company wants to remain in good standing in every state in which it does business, then paying franchise taxes and filing annual reports are required. Each year the Secretary of State in each state will provide a renewal notice to your limited liability company or its registered agent within their state. If deadlines are missed and reports are not filed, or taxes are left unpaid, then fines will be levied, notices will be given and eventually the limited liability company will no longer be able to do business in the state.
Generally, it is best to form a limited liability company in the state where business is conducted
States do not require annual meetings for members of a limited liability company with the ubiquitous minutes. While this is recommended, it’s not necessary. The best practice is for the limited liability company to update records to reflect changes in procedures, management and personnel. Business licenses, permits, and tax registrations are all required in local, county and state governments so the limited liability company must complete all of those (often annually) in order to operate in a specific location.
Why Search for a Limited Liability Company?
There are many reasons that an individual or company may do a search of limited liability companies in a particular state. A lot of information is kept on file about companies that are authorized to do business in a particular state, county and locality. Many mergers and acquisitions professionals are quite adept at searching for limited liability companies in the United States and abroad. Typically, the reason someone searches for a business entity (like a limited liability company) is to find out one of the following:
• Business Address of the limited liability company
• Registered agent address of the limited liability company
• Standing of the limited liability company (is it in good standing?)
• Was the limited liability company legally formed
How to Do a Name Availability Search in New York State
When a new limited liability company is being formed in the state of New York, a name availability search should be done. If a name is being considered for the business, then its availability is paramount to its suitability for New York State. Of course, there are certain naming conventions that must be followed when naming a limited liability company. For example the end of the name must include limited liability company, limited liability company, or L.L.C..
In order to accomplish a name availability search in New York State, go to New York State’s Department of State, Division of records to search their business database to see if your desired name is available. If the name is in use, then you may just try to find a different name for your business, or you may do a little more research.
If the company who has registered your desired name has gone out of business or is not in good standing, then you may be in luck. This will require you to communicate with the State of New York’s Department of State, Division of Records to find out if you can legally register your limited liability company under that already registered name.
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