How to Form an LLC in New York
To form an LLC in New York, follow the steps below:
- Choose a Name for the LLC: The name of the LLC must include the words "Limited Liability Company" or an abbreviation of these words, such as "LLC" or "L.L.C." The name must also be distinguishable from other LLCs registered in New York.
- File Articles of Organization: Submit Articles of Organization to the New York Department of State. This form must include the following information: the name and address of the LLC, the name and address of the registered agent, and the purpose of the LLC.
- Publish a Notice of Formation: Within 120 days of filing the Articles of Organization, the LLC must publish a notice of formation in two newspapers designated by the county clerk of the county where the LLC is located. The notice must include the name of the LLC, the date of formation, and the county where the LLC was formed.
- Prepare an Operating Agreement: Although an operating agreement is not required by law for an LLC in New York, it is highly recommended. The operating agreement outlines the basic rules for the LLC's management and operation such as the voting rights of members, the allocation of profits and losses, and procedures for dissolution.
- Obtain Necessary Permits and Licenses: Depending on the type of business, the LLC may need to obtain certain permits and licenses from state or local authorities.
- Obtain an Employer Identification Number (EIN): The LLC will need to obtain an EIN from the Internal Revenue Service. This number is used to identify the LLC for tax purposes.
- Register for State Taxes: The LLC must register for state taxes with the New York State Department of Taxation and Finance. Registration is required even if the LLC does not have employees.
It is important to note that there may be additional steps and requirements based on the specific industry or type of business. It is recommended to seek the advice of an attorney or business professional to ensure compliance with all legal requirements.
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