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forming a New York LLC

Do you want to form a limited liability company (LLC) in the state of New York? LLCs are an incredibly popular business entity type these days, and there are a few different ways to form one.

You can form an LLC on your own using the DIY method, but that can be quite a bit of hassle, especially if you’ve never done it before. You can hire an attorney to form your LLC, but this option can cost thousands of dollars that many startups don’t have.

This leaves the third option, which is to hire a formation service. There are many reliable LLC services available online, but for New York, there are five that stand out from the pack. Let’s discuss which online business service is the right choice for you.

What Is a New York LLC?

First off, let’s quickly outline what an LLC is. LLCs are formal legal entities that are typically taxed similarly to sole proprietorships and general partnerships, in that the owners include any company profits or losses into their personal returns — the LLC itself does not owe income taxes. An LLC may also elect to be taxed like a corporation, although this is not a very common option.

There are similarities to corporations too, especially when it comes to financial responsibilities. In an LLC, the owners or members are not usually personally accountable for the financial status of the business. This means that if someone sues your LLC, your personal assets are not at risk.

New York charges a somewhat high $200 filing fee to form your LLC, which isn’t the absolute highest price in the nation, but it’s still higher than most states’ formation fees. In addition, this state levies an annual fee for all LLCs with a minimum of $25.

New York is one of several states that legally requires LLCs to have an operating agreement. This is an internal document that outlines several of the LLC’s operational details. You don’t need to file the operating agreement with the state, but you do need to have one in your business documents file.

One thing that makes LLC formations unique in New York is that this is one of a small handful of states that requires entrepreneurs to publish proof of their LLC formations in area newspapers. When you form your LLC, you’ll need to take out advertisements in two local newspapers within 120 days of filing your Articles of Organization document with the state.

Once you’ve completed this requirement, each newspaper will send you an affidavit of publication to submit to the Department of State. At this point, the Department of State will provide you with a Certificate of Publication to certify that you have fulfilled the publication step.

The 5 Best Services for Forming a New York LLC

1) ZenBusiness
2) Northwest Registered Agent
3) IncFile
4) BizFilings
5) LegalZoom

In Conclusion

Due to some special requirements imposed by the state of New York for LLC formations, it’s important that you choose a service that meets all of your needs. If you want assistance with New York’s LLC publication requirement, you can’t go wrong with ZenBusiness or BizFilings.

If you feel comfortable handling publication on your own, you’ll also want to take a look at IncFile’s free option, and we always recommend Northwest Registered Agent to anyone seeking the best customer support this industry has to offer.

We hope this guide helped you hone in on which company is the right choice to form your New York limited liability company!

Frequently Asked Questions

Where Can I Get More Information About Forming LLCs in New York?

We invite you to take a look at our comprehensive guide to forming a limited liability company in New York. This article walks you through the LLC formation process in this state step by step, ensuring that you don’t miss any crucial elements.

What Is New York’s Publication Requirement?

New York is one of a small handful of states that requires entrepreneurs to publish proof of their LLC formations in area newspapers. When you form your LLC, you’ll need to to take out advertisements in two local newspapers within 120 days of filing your Articles of Organization document with the state.

Once you’ve completed this requirement, each newspaper will send you an affidavit of publication to submit to the Department of State. At this point, the Department of State will provide you with a Certificate of Publication to certify that you have fulfilled the publication step.

How Can I Search New York’s Business Name Database?

One of the most important steps in forming a New York LLC is choosing a business name. Once you come up with ideas for your name, you should search through the state’s Corporation and Business Entity Database to make sure your desired name is available. For more information on conducting a business name search in New York, check out our full article on the topic.

Where Can I Find the New York Articles of Organization?

You can complete your Articles of Organization on New York’s Business Express website, or you can print off a paper form to fill out and mail in.

What Are New York’s Ongoing LLC Maintenance Requirements?

New York requires all LLCs transacting business in the state to pay an annual filing fee, along with this form. You will also need to file a biennial report every other year, which you can file online at this link.

Where Can I Get Information on Licensing for My New York LLC?

To find out which permits and licenses are applicable to your business, head on over to the New York Business Express site, where you can find extensive information about licensing requirements in this state.

How Long Does It Take New York to Process My LLC Formation?

The typical filing time for an LLC in New York is around seven business days. However, if you would like to expedite your formation, they offer the following options for faster service:

  • 24-hour service: $25
  • Same-day service: $75
  • Two-hour service: $150