New York LLC Formation
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|
|New York Filing Fee||$200|
Naming the LLC
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).
Steps to Forming a New York LLC
- Complete the TotalLegal online interview.
- TotalLegal performs an LLC name availability search.
- TotalLegal will file your LLC with the New York Secretary of State.
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.
New York LLC Advantages
New York keeps the names of the owners (members) and the actual business address private (so private they don't even collect it or keep it on file). The names and address of the Organizer and the Registered Agent will be public information. To help maintain your privacy, you can choose to have TotalLegal be your Registered Agent.
- Fast approval times.
Since TotalLegal files electronically for you, your LLC is typically approved in a few business days.
Maintaining a New York LLC
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.
Making Changes to Your LLC
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 range from $30 to $60.
Why use TotalLegal?
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.