New York LLC Formation – A 2023 Renewed Quick Legal Outline.

 

 

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

 

Kiritsis Law Group

212 922 0005 

 

A limited liability company (LLC) is a business structure that combines the liability protection of a corporation with the tax benefits of a partnership. An LLC is a popular choice for small businesses and startups because it is relatively easy to set up and maintain, and it offers flexibility in terms of management and profit distribution. In this article, we will explore the process for forming an LLC in the state of New York.

 

Choose a name for your LLC

The first step in forming an LLC in New York is to choose a name for your business. The name must be unique and must not be confusingly similar to the name of any other business registered with the state. You can check the availability of a name by searching the New York Department of State's database of business names.

 

You must also include one of the following designators in your LLC's name: "Limited Liability Company," "LLC," "L.L.C.," or "Ltd. Liability Co."

 

Appoint a registered agent

An LLC must have a registered agent in New York responsible for receiving legal documents on behalf of the LLC. The registered agent can be an individual resident of New York or a business entity authorized to do business in the state.

 

File articles of organization

To form an LLC in New York, you must file articles of organization with the Department of State. The articles of organization must include the name and address of the LLC, the name and address of the registered agent, and the purpose of the LLC.

 

You can file the articles of organization online or by mail. The filing fee is $200.

 

Create an operating agreement

An operating agreement is a legally binding document that outlines the rules and procedures for operating the LLC. The operating agreement should include provisions for management, decision-making, profit and loss sharing, and dissolution.

 

While an operating agreement is not required by law in New York, it is a good idea to have one in place to ensure that the LLC is being run smoothly and to provide protection in the event of a dispute.

 

Obtain any necessary licenses and permits

Depending on the nature of your business, you may need to obtain certain licenses and permits to operate legally in New York. This may include a sales tax permit, a business license, or a liquor license, among others.

 

You should check with the appropriate state and local agencies to determine what licenses and permits you need.

 

Register for state taxes

An LLC in New York is required to register for state taxes, including sales tax and withholding tax. You can register for these taxes online through the New York State Department of Taxation and Finance website.

 

Comply with ongoing requirements

To maintain an LLC in New York, you must file an annual report and pay an annual filing fee. The annual report must be filed by the end of the month in which the LLC was formed. The annual filing fee is $9.

 

In addition, you must also comply with any other ongoing requirements, such as maintaining accurate financial records, holding annual meetings, and electing directors.

 

In conclusion, forming an LLC in New York involves choosing a name, appointing a registered agent, filing articles of organization, creating an operating agreement, obtaining any necessary licenses and permits, registering for state taxes, and complying with ongoing requirements. By following these steps, you can ensure that your LLC is properly formed and operated in compliance with the laws of the state of New York.

 

In the state of New York, it is required that a limited liability company (LLC) publish notice of its formation in two newspapers. This process, known as the "New York LLC newspaper publication," serves to inform the public of the existence of the LLC and to provide notice of its business activities.

 

Choose newspapers for publication

The first step in the New York LLC newspaper publication process is to choose two newspapers for publication. The newspapers must be authorized by the county clerk to publish legal notices, and they must be published in the county where the LLC's principal office is located.

 

Prepare the notice of formation

The notice of formation must include the name of the LLC, the county where the LLC is located, the date of filing the articles of organization with the Department of State, and the date the LLC will commence business. It must also include the name and address of the LLC's registered agent.

 

File the notice of formation with the county clerk

The next step is to file the notice of formation with the county clerk. The county clerk will review the notice to ensure it is complete and accurate. If the notice is approved, the county clerk will issue a certificate of publication, which is required to complete the process.

 

Publish the notice of formation

Once the certificate of publication has been issued, the LLC must publish the notice of formation in the two newspapers chosen for publication. The notice must be published once a week for six consecutive weeks.

 

File the proof of publication with the Department of State

Once the notice of formation has been published in the two newspapers, the LLC must file the proof of publication with the Department of State. The proof of publication must include the certificate of publication and the original affidavit of publication from each newspaper.

 

The New York LLC newspaper publication process serves to inform the public of the existence of the LLC and to provide notice of its business activities. It is an important step in the formation of an LLC in the state of New York and must be completed before the LLC can begin doing business. By following these steps, you can ensure that your LLC is properly formed and in compliance with the laws of New York.

 

It is important to note that the New York LLC newspaper publication process is separate from the requirements for maintaining an LLC in the state. To maintain an LLC in New York, the LLC must file an annual report and pay an annual filing fee. The annual report must be filed by the end of the month in which the LLC was formed. The annual filing fee is $9. In addition, the LLC must also comply with any other ongoing requirements, such as maintaining accurate financial records, holding annual meetings, and electing directors.

 

In conclusion, the New York LLC newspaper publication process involves choosing newspapers for publication, preparing the notice of formation, filing the notice with the county clerk, publishing the notice in the two newspapers, and filing the proof of publication with the Department of State. By following these steps, you can ensure that your LLC is properly formed and in compliance with the laws of New York.

 

 

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