Failure to use the updated corporation and/or LLC forms, as provided by New York’s Department of State, may be a very expensive mistake to rectify (if possible)?

 

 

 

 

 

 

 

 

John Kiritsis, Esq., CPA, MBA, MS, JD, LL.M

 

Kiritsis Law Group   

212 922 0005

 

New York state offers several options for incorporating a business, including forming a corporation, limited liability company (LLC), or nonprofit organization. To incorporate a business in New York, the business must file the appropriate state filing forms and pay the required fees. In this article, we will explore the state filing forms required for incorporating a business in New York, as well as the process for filing these forms and the benefits of incorporating in New York.

 

State filing forms for incorporating a business in New York

The state filing forms required for incorporating a business in New York depend on the type of business being formed.

 

• Corporation: To incorporate a corporation in New York, the business must file Articles of Incorporation with the New York Department of State. This form requires the business to provide information about the corporation, including its name, purpose, directors, and shareholders.

• Limited liability company (LLC): To form an LLC in New York, the business must file Articles of Organization with the New York Department of State. This form requires the business to provide information about the LLC, including its name, purpose, and members.

• Nonprofit organization: To incorporate a nonprofit organization in New York, the business must file Articles of Incorporation with the New York Department of State. This form requires the business to provide information about the nonprofit, including its name, purpose, and directors.

 

Process for filing state filing forms for incorporation in New York

The process for filing state filing forms for incorporation in New York involves the following steps:

 

• Choose a business name: The business must choose a name that is not already in use by another business and that meets the requirements set forth by the New York Department of State.

• File the appropriate state filing forms: The business must file the appropriate state filing forms with the New York Department of State. This can be done online or by mail.

• Pay the required fees: The business must pay the required fees to the New York Department of State in order to complete the incorporation process.

 

Benefits of incorporating in New York

There are several benefits to incorporating a business in New York, including:

 

• Limited liability protection: Incorporating a business in New York provides limited liability protection to the business's owners, which means that their personal assets are protected in the event that the business is sued or incurs debt.

• Tax benefits: Incorporating a business in New York may provide certain tax benefits, such as the ability to deduct business expenses and access to tax credits.

• Professionalism: Incorporating a business in New York can enhance the business's credibility and professionalism, which can be attractive to investors and customers.

• Ease of doing business: New York state has a well-developed infrastructure and a strong business community, which can make it easier for businesses to operate and succeed in the state.

 

In conclusion, incorporating a business in New York requires the business to file the appropriate state filing forms and pay the required fees. The state filing forms required for incorporation depend on the type of business being formed, and the process for filing these forms involves choosing a business name, filing the appropriate forms, and paying the required fees. Incorporating a business in New York can provide several benefits, including limited liability protection, tax benefits, professionalism, and ease of doing business.

 

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The views expressed by this author are not legally binding or reflective of the author, the author’s firm, the author’s employers, the author’s employees, or any individual and/or organization.