If you want to form a business entity that earns a profit, but limits taxes and personal liability, you may want to consider forming a Limited Liability Company (LLC). LLCs also have the same powers afforded to a corporation. Forming an LLC in New York is easy, fast, and affordable.
New York LLC Costs | |
---|---|
TotalLegal Fee | $99 |
New York Filing Fee | $200 |
Total | $299 |
The name of the limited liability company must contain the words “limited liability company” or the abbreviation “L.L.C.,” or “LLC”. The LLC name should not contain the words "corporation" or "incorporated" or the abbreviations "co.", "corp." or "inc."
New York has an extensive list of "restriced" or "prohibited" words that cannot be used in an LLC name without prior consent from the corresponding state agency. The list of "restricted" or "prohibited" words can be found here
You will need to provide the name of your LLC, the Registered Agent's name and physical address (including the County), and the name and address of the organizer (the person forming the LLC).
When approved, TotalLegal will upload your Articles of Organization to your account, and send you an email letting you know you are approved to do business in New York.
It's not hard at all. Each New York LLC is required to file a Biennial Statement every two years. This report can be filed online, and the filing fee is only $9.
All the forms you need to amend your LLC and/or change your Registered Agent are available online from the New York Corporations Division. Filing fees for amendments/changes are typically around $60.
TotalLegal provides your LLC with a free Operating Agreement. Since your approved LLC's Articles of Organization do not list the owners (members) of the LLC, having all of this information in your Operating Agreement will make opening a bank account for your LLC in New York very easy.
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