What are the requirements for forming a limited liability company (LLC) in New York?
Advice for Forming an LLC in New York
As a lawyer, I can provide the following advice regarding the requirements for forming a limited liability company (LLC) in New York:
- Choose a name for your LLC: The name of your LLC must be unique and not already registered with the New York State Department of State. You can check the availability of your chosen name by conducting a name search on the New York State Department of State website.
- File Articles of Organization: You must file Articles of Organization with the New York State Department of State to form an LLC. This document includes basic information about your LLC, such as the name and address of the LLC, the name and address of the registered agent who will receive legal notices on behalf of the LLC, and the names and addresses of the LLC's members.
- Publish a notice of formation: Within 120 days of forming your LLC, you must publish a notice of formation in two newspapers in the county where your LLC is located. The notice must include certain information, such as the name of the LLC, its address, and its purpose.
- Obtain any necessary licenses and permits: Depending on your business, you may need to obtain licenses or permits from the state, county, or municipality where your LLC is located.
- Create an operating agreement: While not required by law, it is advisable for LLCs to have an operating agreement. This document outlines the internal workings of the LLC, such as how profits and losses will be allocated and how decisions will be made.
It's also important to note that NY State LLC law provides certain limitations or exceptions, such as the LLC cannot be engaged in the practice of medicine, law, or accounting, and certain professionals are prohibited from forming an LLC.
If you have any questions or concerns about forming an LLC in New York, I recommend consulting with a licensed attorney who can provide tailored advice based on your specific situation.