 |
|
|
|
| «
Back to State Information |
|
| Incorporate your business in New York;
Our Incorporation information is to help you with the small
business startup process. The New York Incorporation info can
help answer questions like "How do I form an LLC in New York?"
or "What type of Incorporation entity should I be? An New York
S-Corporation or an New York C-Corporation?" or "What are the
requirements for an New York Corporation?" It's easy to set up
an New York Corporation with our Incorporation Software. It has
this and other Incorporation info right on the software. So
once you know, your ready to go! |
|
|
|
| Corporate Name Endings
|
|
| The name must contain the word "Corporation,"
"Incorporated," "Limited," or an abbreviation thereof. The name
may not be the same as, or so similar or confusing to, that
of any domestic or authorized foreign corporation or reserved
name. The name may not contain any word or phrase indicating
the corporation is formed for any purpose other than the purpose
for which the corporation may be and is formed. The use of certain
enumerated words and abbreviations including banking, insurance,
and various professions is prohibited or restricted. |
|
| Corporation Requirements |
|
- Director Information
- Minimum Number - Not less than three, unless there
are only one or two shareholders of record; then the
number of directors may be less than three but not less
than the number of shareholders.
- Residence Requirements - No provision.
- Age Requirements - Directors must be a natural person
at least 18 years of age.
- Directors are not required to be listed in the articles
of incorporation.
- Officer Information
- Officers are not required to be listed in the articles
of incorporation.
- Stock Information
- An increase in shares may cause an increase in initial
filing fees.
- Corporate Records
- The stock transfer ledger must be kept in the principal
corporate office.
|
| Tax and Fees |
|
- Annual Statements
- Each domestic and foreign corporation authorized
to do business in New York must file a Biennial Statement
of directors including their addresses. The applicable
filing period for a corporation is the calendar month
during which its original certificate of incorporation
or application for authority was filed (or the effective
date thereof). A $9 filing fee must accompany each statement.
- Franchise Tax Rate
- Based on two factors.
- First, the tax is based on the highest of:
8% of net income
0.178% of capital (not to exceed $350,000) 2.5% of minimum
taxable income or a fixed dollar minimum tax ($1,500
maximum)
- Second, a subsidiary tax of 0.9 mill per $1 of subsidiary
capital is added. New York has a special lower graduated
tax rate for qualified small businesses. To qualify,
your business cannot have net income greater than $290,000
or capital or paid-in surplus of more than $1 million.
The amount of tax imposed will be 7.5% of net income
at or below $200,000; 8% of net income between $200,000
and $250,000; and 2.5% of the net income base that exceeds
$250,000.
- S Corporation
- S Corporation status is recognized by the State of
New York; however, New York imposes a franchise tax
on S Corporations. A separate state election from the
federal election is required.
- License Requirements
- New York requires that you obtain a license and pay
a fee if operating certain types of businesses in the
state. Please check with the state to make sure your
business is complying with the license requirements
for your particular profession.
|
|
|
|
|
For more information on taxes, visit: http://www.tax.state.ny.us/
For additional or updated information, visit: http://dos.sstate.ny.us
Mailing Address:
Department of State
Division of Corporations, State Records, and Uniform Commercial
Code
41 State Street
Albany, NY 12231-0001
Tel: (518) 473-2492
Fax: (518) 474-1418
- LLC Publication Requirement
In New York, all LLCs formed or foreign qualified there
are required to publish a notice of formation for six consecutive
weeks in assigned newspapers. This requirement does not
affect the good standing status of the LLC; however, an
LLC is required to complete this requirement in order to
have access to the New York State court system. The publication
is made at the county level in two newspapers as assigned
by the local county recorder. The cost of this requirement
varies greatly based upon the county where the business
is located. In New York County, the publication costs will
be higher than in the rest of the state. The reason Business
Filings does not perform the publication requirement in
New York is because of the great difference in price from
county to county. To comply with this requirement, please
contact your local county recorder's office and they will
assign the newspapers. The county recorder's phone number
is located in the blue pages of your local phone book. A
court in New York declared the publication requirement to
be unconstitutional in November of 2001; however, this case
is currently under appeal. Until a decision is made in the
appeal, the New York LLC publication requirement remains
in effect
|
| Would you like to incorporate
in New York? Click
here to purchase the New York Incorporation Kit. |
|
|
 |
|
|
|
|
|
|
