Are you looking to learn how to form an LLC in New York? If so, you've come to the right place. The experts at John F. Dennehy CPA offer decades of experience helping entrepreneurs and business owners form an LLC. While some people may be experienced forming an LLC in New York, the process can be very confusing if it's your first time.
Fortunately, the business consultation experts at John F. Dennehy CPA are here to offer assistance and guidance. We can handle the entire filing process or simply offer consultative services. Don't hesitate to give us a call today for expedited solutions. In the meantime, continue reading to learn how to form an LLC in New York
Select a Name for Your Company
In the state of New York, your LLC must include "LLC," "L.L.C", or "Limited Liability Company". The name you choose should be distinguishable from businesses already formed. To ensure your name isn't infringing on another business' name, you should check the business name database offered by the New York Department of State Division of Corporations. Once you find a name that is unique, you can reserve it for up to 60 days by filing the Application for Reservation of a Name and paying the associated fee.
Ensure You Have an Accurate Address
The New York Department of State is by default the "agent for service of process" for every LLC formed in the state. They will accept all legal paperwork and forward it to your LLC.
Because of this, you must provide a name and address for the legal papers to be sent. You may also elect to appoint a commercial registered agent or an individual New York resident (yourself) as an extra agent to receive the service of the process.
How to Form an LLC in New York & File Articles of Organization?
If you're looking to form an LLC, one of the critical steps is to file your Articles of Organization. These forms and documents must be filed with the Department of State Division of Corporations. Your Articles of Incorporation must include:
You do have the option to file the articles online or via postal mail. Because of the tedious process, it's vital to follow all directions or your Articles could be rejected. In addition, there are fees associated with filing your Articles of Organization.
Create an Operating Agreement
Relatively unique to New York, you will be required to establish and adopt a written Operating Agreement. The Operating Agreement is a key document that establishes the liabilities, duties, powers, rights, and obligations of the members to the LLC and among themselves.
Fortunately, your Operating Agreement is entirely internal and will not be filed. All members of the LLC are required to adopt this agreement. Members can adopt the operating agreement at the time of, before, or up to 90 days after filing the Articles. There are no set criteria for operating agreements. However, it usually includes topics concerning:
Meeting the Publication Requirements
Within 120 days of your Articles becoming effective, you must publish in two different newspapers a notice related to the formation of your LLC or a copy of your Articles. The newspapers you select have to be designated by the county clerk of the county where your office will be or is located based on the filing of your articles.
Once it's published, the publisher or printer of the newspaper will give you an affidavit of publication. You must submit the Certificate of Publication to the Division of Corporations and pay the required filing fee.
Compliance with Regulatory and Tax Requirements
Depending on your LLC, there may be extra regulatory and tax requirements. These may include:
Contact John F. Dennehy CPA for Assistance Starting an LLC in New York
We get it — forming an LLC in New York can be confusing. Because of this, the experts at John F. Dennehy CPA can help. Contact us today to schedule a consultation.