New business owners in New York often choose to organize their enterprises as limited liability companies, so that they can benefit from the legal protections that structure provides. To accomplish that with a minimum of difficulty, entrepreneurs need to understand the basic process for completing that type of NY LLC formation. That's the best way to ensure that all of the specifics for a successful filing are made in accordance with state law.
Everything begins with the selection of a unique name that must be submitted to the New York Division of Corporations. The state offers an online database against which any proposed new business name can be compared to ensure that it is different enough from other names to properly distinguish itself. The naming process also requires adding "limited liability company" to the name, or the abbreviations "LLC" or the less common "L. L. C."
The Division also must have Article of Organization on file, laying out the basic details of the enterprise. This document must contain the company's name, county of location, and a valid mailing address. These Articles, along with the required filing fee, can be submitted either online or by regular mail.
New York differs from most states in its requirement that each limited liability company list the State as its Registered Agent rather than legal counsel or other entities. It does so that all legal summons, lawsuits, and similar documents are directed toward the appropriate state agency. That agency then delivers those documents for the company's consideration.
An Operating Agreement must also be created, establishing the rights, liabilities, and obligations of all members of the LLC. This Agreement does not need to be filed with the state, but will have to be created if the owner is to obtain the necessary documentation to complete the formation process.
That step involves obtaining a Certificate of Publication. Sometime within one-hundred and twenty days after the initial registering of this type of enterprise, the owner must have the Operating Agreement published in two newspapers. Alternatively, the entrepreneur can choose to publish some form of notification announcing the LLC's formation. The newspapers then give the owner the necessary Certificate to give to the Division of Corporations.
For tax purposes, companies with two or more members are mandated to acquire an Employer Identification Number. That requirement is not necessary for single-member enterprises, however. In addition, every company should ask about necessary licenses, permits, and any other documentation that might be needed to operate within the jurisdiction. For companies not native to New York, there are additional requirements that may need to be addressed by contacting the Division for more information.
Business owners in New York can enjoy tremendous opportunities and benefit greatly from the LLC status. There are many critical details, however, that can make the filing process more difficult than it has to be. Fortunately, those who research these simple requirements will find the process much simpler than they might have expected.
Everything begins with the selection of a unique name that must be submitted to the New York Division of Corporations. The state offers an online database against which any proposed new business name can be compared to ensure that it is different enough from other names to properly distinguish itself. The naming process also requires adding "limited liability company" to the name, or the abbreviations "LLC" or the less common "L. L. C."
The Division also must have Article of Organization on file, laying out the basic details of the enterprise. This document must contain the company's name, county of location, and a valid mailing address. These Articles, along with the required filing fee, can be submitted either online or by regular mail.
New York differs from most states in its requirement that each limited liability company list the State as its Registered Agent rather than legal counsel or other entities. It does so that all legal summons, lawsuits, and similar documents are directed toward the appropriate state agency. That agency then delivers those documents for the company's consideration.
An Operating Agreement must also be created, establishing the rights, liabilities, and obligations of all members of the LLC. This Agreement does not need to be filed with the state, but will have to be created if the owner is to obtain the necessary documentation to complete the formation process.
That step involves obtaining a Certificate of Publication. Sometime within one-hundred and twenty days after the initial registering of this type of enterprise, the owner must have the Operating Agreement published in two newspapers. Alternatively, the entrepreneur can choose to publish some form of notification announcing the LLC's formation. The newspapers then give the owner the necessary Certificate to give to the Division of Corporations.
For tax purposes, companies with two or more members are mandated to acquire an Employer Identification Number. That requirement is not necessary for single-member enterprises, however. In addition, every company should ask about necessary licenses, permits, and any other documentation that might be needed to operate within the jurisdiction. For companies not native to New York, there are additional requirements that may need to be addressed by contacting the Division for more information.
Business owners in New York can enjoy tremendous opportunities and benefit greatly from the LLC status. There are many critical details, however, that can make the filing process more difficult than it has to be. Fortunately, those who research these simple requirements will find the process much simpler than they might have expected.
About the Author:
When you are looking for information about NY LLC formation, pay a visit to the web pages online here today. Details are available at http://www.hendricksfirm.com now.
Tidak ada komentar:
Posting Komentar