Form an LLC in New York with Inc Authority for Free

Before you even start the process of starting an LLC in New York, you must choose a unique and relevant business name. Your name should be relevant to your business and simple & memorable enough for your potential customers to remember.

When choosing an LLC name, ensure that you follow the New York LLC naming conventions including adding words like “LLC” to it. Also, search the state databases to make sure that no other business is using your chosen name within the state.

If you anticipate delays in starting the process, you can reserve the name for up to 60 days by paying a nominal fee to the state. This will ensure that while you’re busy forming an LLC in New York, no other business can snatch up your chosen LLC name.

You must also secure a matching domain name for your business website. If a good domain name is not available for your chosen business name, you might have to consider changing your name and acquiring a matching domain name for your website.

All LLCs in New York should have a local registered agent with a permanent address within the state. The registered agent can be an individual or a company, or you could choose to act as a registered agent for your business in New York.

The registered agent needs to be physically present to receive all legal correspondence on the behalf of the business at the registered address during business hours. That’s why it’s better to outsource this service to a reliable company like Inc Authority.

You can form a single-member LLC or a multi-member LLC depending on how many owners are forming the business. You also need to choose between a domestic LLC and a foreign LLC when forming a Limited Liability Company in New York.

If you are starting a new business that you intend to operate within the state, you need to form a domestic LLC. If you have an LLC registered in another state and want to expand your operations to New York, you need to register a foreign LLC.

You can complete this after registering your business, but we recommend doing this earlier. This ensures that you have a clear vision of your future business and how you want things to run, and who’ll be responsible for what.

An LLC operating agreement lists all the rules of governance, dispute resolution, decision-making, and succession planning for an LLC. This is a must-have document if you want to run your business smoothly, without internal conflict.

To officially register your business in New York, you need to file your LLC Articles of Organization with the New York Secretary of State. You will also need to submit the required documents and fill out the application for forming an LLC.

You can submit your completed application online, or via mail or fax, or in person. The fastest and easiest way to do this is submitting an online application. Inc Authority further simplifies the process by reviewing your application and filing it on your behalf.

Some states, like New York, require new businesses to announce their launch by publishing the news in local newspapers. To form an LLC in New York you need to publish a notice in any two newspapers for six consecutive weeks.

Choose a newspaper designated by the county clerk’s office and include either a copy of the Articles of Organization or a formal notice announcing your new LLC. Ensure that your LLC name and other information exactly match the state records.

Every business needs an EIN that acts like the business’s identity in the eyes of the government. IRS (Internal Revenue Service) uses a Tax ID or Employer Identification Number to identify and track a business for tax and other purposes.

A business also needs an EIN for other purposes, such as opening a business bank account, hiring and paying employees, securing funds from investors, etc. That’s why obtaining an EIN is an important step in the process of forming an LLC.

As you would probably know, it’s absolutely essential that you keep your personal and business finances separate, especially if you want to enjoy the liability protection offered by LLCs that protect your personal assets from business debts and liabilities.

Opening a separate business bank account not only helps with that, but also streamlines managing business finances, accounting, and bookkeeping. Check out the various options available in the state or an online bank that meets your needs.

Even after you’ve officially registered your Limited Liability Company in New York, you still can’t start operations until you acquire all the necessary licenses and permits for your business. This will depend on your type of business and location.

You may need federal, state, and local business licenses and permits. Find out your business-specific requirements and get all the permits you need to run an LLC in New York. This will ensure that your business complies with local rules.

Apart from liability protection, New York LLCs also offer the flexibility of choosing how they want to be taxed. An LLC in New York can choose to be taxed as a Sole Proprietorship, Partnership, S-Corp, or C-Corporation, offering a lot of flexibility.

Depending on the no. of LLC owners and your preferences, you can choose how you want to be taxed. Most LLCs, however, opt for pass-through taxation, which avoids double taxation and allows business income to pass directly to owners for tax purposes.

When you form an LLC in New York, you need to follow the naming convention of the state for registering your business name. This may require adding words like “LLC” or “Limited Liability Company” to your business name, making it long.

If you want to run your business under a shorter, more marketable name, you can file for a DBA (doing business as). This allows you to register a fictitious name or assumed name that you can use for day-to-day business operations and marketing.

Every business needs a website to provide information about the business to prospective customers. And you’ll also need a domain name that matches your chosen business name or fictitious name, whichever you prefer to market your business.

Therefore, it’s prudent to register a domain name and start building a website before or during the process of registering your business. Our trusted partner, GoDaddy, offers complete web design and marketing services that you can use for this.

Once you form an LLC in New York, your legal obligations don’t end there. You need to take care of certain things on an ongoing basis to ensure that you stay compliant with the state’s laws and regulations, and remain in good standing with the state.

Unlike most states, New York does not require an annual report. It does, however, charge an annual fee starting from $25. Apart from this, you’ll also need to pay federal and state taxes, and employer taxes, and meet other compliance guidelines.

Here are the features you’ll get with the free business formation plan:

• Business name search: Inc Authority offers an easy-to-use business name search tool on its website that you can use to check if your chosen name is being used by any other business or if it’s available for you to use.
• 1-year registered agent services: Whether you opt for the free plan or one of the paid plans, Inc Authority will provide you with New York registered agent services for free, for the first year. After that, you’ll need to pay for it.
• Online document management: Inc Authority offers you the option to store all your business documents online and access it through your Inc Authority account. This keeps your important documents safe from theft or damage.
• Tax planning consultation: Along with the free LLC formation, Inc Authority also offers free tax planning consultation with its free plan. A tax planning expert will guide you on how to maximize tax benefits and will answer all your questions. 
• LLC formation: The service that Inc Authority is known for is its free LLC formation service. Their team will review and file your application and get your LLC registered with the New York Secretary of State quickly and efficiently.
• S-Corp election and filing: If you want your LLC to get the special tax status of an S-Corp, Inc Authority can help with that as well. Their team will take care of the s-election form and ensure that you get the special tax status in no time.
• Business funding analysis: Every business needs sources of funding to run the operations smoothly and expand further. Inc Authority will provide you with an analysis of your business funding needs and will also give you several options.

The free plan offers everything you need to start an LLC in New York. For more personalized, high-touch services, check out its paid plans.

Price: Free

Here are the additional services you’ll get with the Starter plan:

• LLC operating agreement: You will need to create a New York LLC operating agreement for your LLC in New York. Inc Authority will help you with the process, ensuring that you craft a comprehensive agreement covering all the important details you need to set the rules for how to run your business.
• Ownership certificates: Inc Authority can help you create and issue certificates of ownership for members of your organization. If you have no idea how to create one, they’ll help you with that by providing templates and reference materials.
• Employer Identification Number: One of the most important steps in forming an LLC in New York is to obtain an EIN or Tax ID. If you opt for the Starter plan, Inc Authority will help you with the application process and ensure that you get your Employer Identification Number as soon as possible.
• Corporate forms and documents package: Businesses need a variety of documents on a regular basis, including contracts, agreements, and certificates. Inc Authority offers templates for different types of business documents and also helps you create these documents quickly and easily.
• Compliance notifications: When you operate your business in New York, you will need to comply with a lot of rules and regulations set forth by the state and federal governments. Inc Authority will send you reminders on upcoming deadlines and inform you of the compliance requirements to ensure you’re in good standing.
• Detailed tax consultation: With the free plan, you can get a brief tax planning consultation, but with paid plans, you get full access to tax planning specialists. A tax planning expert will help you plan and file your taxes in a way that gives you the maximum benefits, saves taxes, and gets all the applicable tax rebates.
• Web domain + 5 business email addresses: No business can successfully run and grow in this day and age without a website. Inc Authority has tie-ups with leading web design service providers and can help you build a user-friendly website and also provide up to 5 business email addresses.

Price: Custom

Here are the additional services you’ll get over the Starter plan:

• Customer success advisor: When you opt for the highest-tier plan, Inc Authority will assign a dedicated account manager or customer success advisor for your account. They will be your point of contact for anything and everything you need to start your business, run it smoothly, and grow it successfully. They’ll answer all your questions promptly.

• Private banking expert: To manage your business finances you’ll need a good bank and a separate business bank account. Inc Authority will connect you with a private banking expert who can help you shortlist the best business banking options and even choose the right business bank account that suits your business needs.

• Personalized business advisory: Contrary to popular belief, Inc Authority is not just a business formation services provider. It not only helps you start a business but also partners with you to help it grow. Their business advisory services will ensure that you hit the ground running and start on the path to success from the very first day.

• Expedited preparation & filing: The key reason why you should choose this plan is same-day filing. While most businesses would have to wait for some days, depending on the number of clients at any given time, to get their application reviewed and filed. Clients on the Fasttrack plan are priority clients and their applications get filed within one day.