For nearly a decade, Toni Matthews-El has published business topics ranging from cloud communication software to best steps for establishing your own LLC. In addition to Forbes Advisor, she's published articles for Medical News Today, US News and Wor.
Toni Matthews-El Staff ReviewerFor nearly a decade, Toni Matthews-El has published business topics ranging from cloud communication software to best steps for establishing your own LLC. In addition to Forbes Advisor, she's published articles for Medical News Today, US News and Wor.
Written By Toni Matthews-El Staff ReviewerFor nearly a decade, Toni Matthews-El has published business topics ranging from cloud communication software to best steps for establishing your own LLC. In addition to Forbes Advisor, she's published articles for Medical News Today, US News and Wor.
Toni Matthews-El Staff ReviewerFor nearly a decade, Toni Matthews-El has published business topics ranging from cloud communication software to best steps for establishing your own LLC. In addition to Forbes Advisor, she's published articles for Medical News Today, US News and Wor.
Staff Reviewer Rob Watts Managing Editor, SMBWith over a decade of editorial experience, Rob Watts breaks down complex topics for small businesses that want to grow and succeed. His work has been featured in outlets such as Keypoint Intelligence, FitSmallBusiness and PCMag.
Rob Watts Managing Editor, SMBWith over a decade of editorial experience, Rob Watts breaks down complex topics for small businesses that want to grow and succeed. His work has been featured in outlets such as Keypoint Intelligence, FitSmallBusiness and PCMag.
Written By Rob Watts Managing Editor, SMBWith over a decade of editorial experience, Rob Watts breaks down complex topics for small businesses that want to grow and succeed. His work has been featured in outlets such as Keypoint Intelligence, FitSmallBusiness and PCMag.
Rob Watts Managing Editor, SMBWith over a decade of editorial experience, Rob Watts breaks down complex topics for small businesses that want to grow and succeed. His work has been featured in outlets such as Keypoint Intelligence, FitSmallBusiness and PCMag.
Managing Editor, SMB Jane Haskins, J.D. contributorJane Haskins practiced law for 20 years, representing small businesses in startup, dissolution, business transactions and litigation. She has written hundreds of articles on legal, intellectual property and tax issues affecting small businesses.
Jane Haskins, J.D. contributorJane Haskins practiced law for 20 years, representing small businesses in startup, dissolution, business transactions and litigation. She has written hundreds of articles on legal, intellectual property and tax issues affecting small businesses.
Jane Haskins, J.D. contributorJane Haskins practiced law for 20 years, representing small businesses in startup, dissolution, business transactions and litigation. She has written hundreds of articles on legal, intellectual property and tax issues affecting small businesses.
Jane Haskins, J.D. contributorJane Haskins practiced law for 20 years, representing small businesses in startup, dissolution, business transactions and litigation. She has written hundreds of articles on legal, intellectual property and tax issues affecting small businesses.
Updated: Apr 16, 2024, 10:12pm
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With more than 5.4 million applications filed in 2021 alone, it is safe to say that we are seeing a massive boom in new business formation efforts. Limited liability companies (LLCs) remain among the most popular types of business as the startup process is affordable and straightforward.
Forbes Advisor created this guide to help you learn how to get an LLC in New York in 2024. We’ll walk you through each step and highlight important considerations.
There are a few crucial details you need to take care of before submitting your LLC formation documents. The following sections detail what to handle before you file.
Before trying to register your new LLC, you should make sure the name you plan to use is available. The Department of State Division of Corporations website offers a searchable database to double-check business name availability. For official confirmation that your name is available, you can submit a name search request in writing to the NY Department of State, along with a $5 fee. After settling on a name and confirming that you can register it, remember it must include “limited liability company” or the abbreviations “LLC” or “L.L.C.”
If you aren’t ready to file your LLC documents, you can ensure your chosen business name will remain available for use by submitting an Application for Reservation of Name. The fee is $20 and must be made payable to the Department of State. Once filed, you can hold your chosen name for 60 days.
Most states require LLCs to name a person or business to act as the LLC’s registered agent. The agent’s job is to accept lawsuits and other legal documents on behalf of the business. In New York, you must name the Secretary of State as your LLC’s registered agent. You must also provide an address to which the Secretary of State can mail any documents it receives.
New York also allows you to name an additional New York resident or registered agent business as your LLC’s agent, but you are not required to do this. If you do decide to hire a registered agent company, there are many choices available. The cost ranges between $49 and $300. Be sure to check the services offered to ensure you are getting the best deal.
In New York, LLCs must adopt a written operating agreement, as addressed in Section 417 of the state’s LLC laws. This agreement must include details, such as the type of business, how it will function in day-to-day operations, the rights and powers of LLC members and individual obligations or responsibilities. It is possible to make amendments to the operating agreement from time to time. However, you cannot do so without the express consent of all parties.
The operating agreement may be adopted before articles of organization are filed or within 90 days after filing. They are not filed with the state.
When you wish to move forward with submitting your formation documents, you will file the articles of organization. Out-of-state LLCs that want to register to do business in New York submit an Application for Authority. Foreign LLC registration costs $250 while domestic LLCs get charged $200.
Foreign entities wishing to do business in New York must remember to include a Certificate of Existence or Good Standing with their application. Be sure the date of the certificate is no more than a year older than your application.
You can apply to form an LLC in New York by mail or online. Mail applications may face a long wait, but you can expedite them for a fee. Meanwhile, digital applications are processed immediately, with practically no delay.
