USPTO Trademark Filing in Just $49
Register Your Trademark with USPTO Today & Get Serial No. in 24 Hours
New York is one of the most popular states for forming an LLC, with more than 71,000 active LLCs and 620,000 active corporations. The process of forming an LLC in New York is relatively simple. Below are the basic steps you need to take to form and register your new business entity:
One of the most important decisions you’ll make when forming your LLC is deciding whether to form a general or limited liability company. A general liability company has no restrictions on its owners or members, while a limited liability company restricts ownership to one member and limits their personal liability.
When deciding what type of structure is right for you, keep in mind that there are advantages and disadvantages to each option:
Choose a name for your LLC.
The name of your LLC must be distinguishable from other active business names in New York, or else it will not be approved by the state department of state. There’s no fixed rule on what makes a good name—it depends on several factors, such as the type of business you’re running and whether or not you’ll need to register trademarks or copyrights related to that business in the future. One thing is certain: New York does not approve names which are too similar to government agencies and public entities (for example, if we were trying to start up a new business called “New York City Department of Dog Parks,” our application would likely get rejected). Also note that words like “corporation” and “limited liability company” should not appear anywhere within your LLC’s official name (unless they’re part of an acronym).
The final step in forming an LLC is to file your organization’s Articles of Organization. These are documents that must be filed with the New York Department of State—and they can be filed online, through the NYS Department of State website. The articles of organization state who owns the company and what type of business it is.
Once you have filled out this form, you will need to sign it by all owners listed on the form (even if some are not present). Once this is done, mail or hand-deliver your documents to:
New York Secretary of State
Citizenship Section – Corporations Bureau
One Commerce Plaza – 9th Floor
Albany, NY 12231
An operating agreement is a contract between members of the LLC that defines their rights and responsibilities. It can be used to transfer ownership of the LLC, and it’s legally binding on all members of the entity.
A well-crafted operating agreement can help you avoid disputes among your members, or even lawsuits from outsiders. For example, if one member refuses to pay his or her share of an outstanding debt because he or she does not agree with other decisions made by other members, an operating agreement may help resolve these issues in a way that protects each member’s investment in the company.
You will also need to comply with other tax and regulatory requirements. In addition to filing your own federal and state taxes, you must file a New York State tax return. The New York Department of Taxation and Finance administers the Business Tax program; all LLCs are required to pay annual taxes based on their gross receipts as well as self-employment taxes for members who work in the business more than half time. This information can be found on their website at www.tax.ny.gov/busf/biz_tax_registration_form_07152019a_companies_listing_guidebook__12132019a_.pdf
In New York, there are several ways to form an LLC. You can choose from one of the state’s approved forms or create your own. The process is not difficult and typically requires completing a few documents that incorporate information about your business and its owners.
An LLC provides legal protection and flexibility for its owners (called members). In addition to providing liability protection against personal liability claims, an LLC can help you avoid double taxation on profits and allow you to operate under your own rules if you so choose.
For most businesses, forming an LLC is a good choice because it offers maximum flexibility while providing some important protections without being as cumbersome as other business structures such as corporations or partnerships. If you want complete freedom over how your business is run but still want some level of legal protection for yourself and other members of the company, then forming an LLC may be right for you!
You’re on your way to becoming an LLC! You can check the status of your New York LLC by visiting the New York Department of State website.
Register Your Trademark & Get The Delivery of your USPTO Serial No. In 24 Hours
Register Your Trademark with USPTO Today & Get Serial No. in 24 Hours