The New York LLC


NYRA’s Sucker-Free LLC Formation Package

We’re not trying to sucker you into anything – that’s why we provide a free guide below to forming a New York LLC. We know that you can do it yourself. All it takes is time and, unless you’re a whiz at legal stuff, some frustration. We keep that in mind in our pricing. We only charge one transparent fee. It’s a flat rate that never changes, and this is exactly where it goes:

Service Fee
New York State Filing Fee $200
Our LLC Formation Service Fee $100
One Year Registered Agent Service $49
Total $349

Don’t let some giant corporation rope you into signing up for a registered agent service with hidden fees that keep piling up. And don’t overpay on the publication requirement. Apart from the New York state filing fees, we’re really only charging you $149. That gets you:

  • 1 day LLC formation (holiday/weekend orders processed following business day)
  • 1 year of New York Registered Agent Service (including use of Albany address)
  • A customized operating agreement
  • Membership certificates
  • Initial resolutions
  • Publication templates to send to the Albany newspapers
  • Online account to monitor, track, and receive legal mail and business documents
  • New York LLC biennial statement reminders
  • Client support (call us! an actual person will answer the phone and help you)

We love seeing the underdog become the big dog. So get out there and make it happen.

 

GET STARTED

 

Below is our sucker-free guide to creating an LLC in New York. Do it yourself or hire us – just get your idea off the ground.

How to form an LLC in NY Yourself

Are you ready to make it official? To get your LLC on the books, you need to file Articles of Organization with the New York Department of State. If you’ve already registered in another state, you don’t need to form another LLC. Instead, you’ll need to submit a Certificate of Authority for a New York foreign LLC. You can only file by paper, and you must attach a Certificate of Good Standing, Certificate of Existence, or Certificate of Status from your LLC’s home state. The filing fee is $250.

To start a New York LLC, your first step is to file Articles of Organization.


Write your New York LLC operating agreement

An LLC operating agreement is just what it sounds like: an agreement on how the LLC is going to operate. You don’t have to file it with the NY Department of State, but you do need to have one.

A good operating agreement will include basic info about your LLC, but it should also get into the nitty gritty. How much money are members contributing? How will profits and losses be allocated? What if a member wants out? And how will you handle it if — God forbid — things go south and you need to dissolve?

Hashing it out over pizza is great, but you need to get it in writing.

If I don’t have to file the operating agreement in New York, why do I need one?

Three reasons:

1.) It’s the law.

2.) It’ll be helpful for solving problems down the road.

3.) The bank will want to see it when you open a business account.

Does a single-member LLC need an operating agreement in New York?

Yes, even a single-member LLC needs an operating agreement. It might be different than a multi-member LLC operating agreement, but you should still have one to show the bank.

Do you have an operating agreement I can use?

Yes. When you hire us to form your New York LLC, you’ll get an operating agreement template that is specific to your business structure.


Meet the New York LLC publication requirement

Once you file your NY Articles of Organization, the clock is ticking. You have exactly 120 days to publish a total of 48 newspaper ads in two newspapers in the county where your LLC was formed.

We know. The New York LLC publication requirement is bonkers. It’s also expensive, depending on where you’re registered. New York City LLCs are looking at upwards of $1,500. But we have a solution. Hire us to serve as your registered agent or form your NY LLC, and you can use the address of our Albany office. It’s one of the cheapest places to publish in the state. You’re looking at around $100 – TOTAL – in publication fees.

After you publish, the newspaper will send you an Affadavit of Publication. You’ll use it to file the Certificate of Publication ($50) with the Department of State.

But what if I want my registered address to be in NYC?

No problem. Use our Albany address to form your LLC and meet the LLC publication requirement in New York. Then file an amendment to change your address for $30.


Get an EIN

An Employee Identification Number (EIN), also sometimes called a FEIN, is a nine-digit number assigned to your LLC by the IRS.

Do I need an EIN?

Probably. If you’re a single-member LLC with no employees and no need to pay excise taxes, you can technically use your Social Security number. Otherwise, you need an EIN. The law might not require you to get an EIN, but your bank will.

How do I get an EIN for my NY LLC?

You can apply online and get an EIN instantly.


Open your New York LLC bank account

Put on your lucky shoes. It’s time to open a business account for your LLC. You’ll need to bring the bank the following:

  • your New York LLC’s EIN
  • a copy of your Articles of Organization
  • a copy of your Operating Agreement
  • your business license (if needed)
Why do I need a bank account for my LLC?

You need an LLC bank account to keep your business finances separate from your personal finances.

One of the biggest upsides of an LLC is that it creates a legal separation between you and your business. This separation is valuable, especially when it comes to liability.

Letting your personal and business finances intermingle erodes that separation. To keep it intact, you need to open and use an LLC bank account.


Get a New York Business License

This won’t come as a shocker: New York has a ton of weird regulations. There’s no general business license required to do business in New York State, but depending on what kind of business you’ll be doing, you may need to apply for a license or permit at the city and state level.

New York City LLCs can use the New York City questionnaire to generate a customized list of requirements on the city, state, and federal level. Outside of NYC, you can use this state questionnaire. You can also call up your county clerk and ask.


Pay the New York LLC Tax

You know what they say – death and taxes, etc.

By default, a New York LLC is taxed as a “disregarded entity.” This means that members report profits on their personal income tax returns.

New York LLCs also have to pay an annual filing fee to the Department of Taxation and Finance (DTF). The rate changes based on the gross income of your LLC. For LLCs making less than $100,000 a year, the rate is $25.

To pay, you’ll file Form IT-204-LL with the DTF by the 15th of the third month following the end of your tax year. So if your tax year ends December 30th, you’ll need to pay your annual fee by March 15th.


File your NY Biennial Statement

If you just opened your LLC, you don’t have to worry about filing a NY biennial statement for two years.

But what is time, anyways? Might as well be prepared now. The biennial statement is due by the end of the month when you formed. So if you filed New York Articles of Organization on March 7th, 2020, your biennial statement will be due by March 31st, 2020. If you forget to file, your New York LLC will fall out of good standing.

When you hire New York Registered Agent, we’ll send you automatic reminders to file your New York biennial statement. You can also hire us to file your biennial report for you.