This is a complete guide to form an LLC in New York. Learn how to form an LLC in New York in this in-depth guide.
You have a lot of options when it comes to how you structure your business. One great option is the limited liability company (LLC). An LLC is a hybrid of a corporation and a partnership.
It has some benefits for corporations, like limited liability and tax treatment, but it’s also easier and less expensive to form than a corporation. A downside is that LLCs don’t give you as many trademark or copyright protections as corporations do.
If you’re thinking about starting your own business, do your research on the different options and choose which type best suits your needs.
After selecting your business entity, you have to consider the state where you are willing to form an LLC.
How to form an LLC in New York in 2022
Step by Step to Form an LLC in New York
In this in-depth guide, I will tell you how to form an LLC in New York. For forming an LLC in NewYork you have to follow six steps:
Step 01: Name your LLC
The next step to form an LLC in New York is to select the name of your LLC. The name of your LLC is essential in obtaining an EIN and opening a bank account in the U.S. for your business.
There are a few guidelines to follow when you are about to name your company:
- The company name must include the term-limited liability company or the abbreviations LLC / L.L.C.
- Specific terminologies like FBI, State Department, etc. they can mistake your LLC for the government agency. The use of such terms is forbidden.
- The use of restricted words like University, Lawyer, and Banks requires additional documents and an authorized person.
Step 02: Hire a Registered Agent
The next step to form an LLC in New York is to appoint a Registered Agent.
A Registered Agent is a person or a company who receives all official mail and processing services on behalf of your business. To keep your business in good standing, you must maintain a registered agent inNew York, which we do for $ 99 per year.
They are required by law and must maintain a physical address and maintain regular opening hours. Since you do not live in the United States, these are requirements that you cannot meet.
Micahguru Formation is best for this task. For Registered Agent service, we charged $99 per year, which is comprehensively cheap and more valuable than others.
Step 03: File a Certificate of Formation
In the next step, you have to file a Certificate of Formation which is known as Articles of Organization with the New York Secretary of State which costs $200.
The Certificate of Formation must include:
- Name of your LLC.
- Name and Address of the Registered Agent of your LLC.
- Signature of an Authorized Person.
Step 04: Publication Requirements
New York law requires LLCs to publish in two newspapers for six successive weeks’ notice of their formation. The first newspaper must be published at least one week and not more than six weeks before the filing of the certificate of organization.
The second newspaper must be published at least one week and not more than six weeks after the filing of the certificate.
Step 05: Create an Operating Agreement
You must require an Operating Agreement to form an LLC in New York. An Operating Agreement is a document which is sets out the rights and responsibilities of the members and managers of an LLC. If you do not have an Operating Agreement, state LLC law will govern the operation of your LLC.
Step 06: Apply for an EIN
The next step is to apply for EIN. An EIN stands for Employer Identification Number. You will require an EIN to file and pay taxes and open a bank account.
Once the State of New York has verified that your Articles of Incorporation (for New York LLCs) or Articles of Incorporation (for New York corporations) have been processed, you can apply for an EIN by completing Form SS-4 with the Internal Revenue Service (IRS).
The IRS accepts EIN requests online, by phone, or by mail. The form is one page and comes with lots of instructions.
You have two options to form an LLC in New York:
To form an LLC in New York yourself, you need to follow all the steps select a name for your LLC, hire a Registered Agent, file New York Articles of Organization which costs $200, create an Operating Agreement, and applies for an EIN. Forming an LLC in New York yourself can be difficult for you if you are completely unfamiliar with the system.
We have a separate package for New York which, includes New York Filing Fees, Registered Agent Fee $99/year, Expedited Filling Services, Annual Report Services, Operating Agreement Template, (EIN) Employer Identification Number, Banking Resolution Template, Work-Free Compliance with 100% Accuracy Guarantee. For which we charge $405 and we take 4-8 business days.