How to Easily Start a NY State LLC Registration[Infographic]
Creating a Limited Liability Company is a relatively straightforward process that offers essential benefits and protection for small businesses. If you’re looking to start or have started a small business in New York, read more below about the NY state LLC registration process and how to get started.
What is an LLC (Limited Liability Company)?
An LLC is a specific business structure that offers the benefits of both corporations and partnerships or sole proprietorships to small businesses. LLCs allow for certain tax exemptions as well as protection from personal litigation.
LLCs allow for flow through taxation, in which the business’s earnings are treated as that of the individual(s) who own the company. This distinction helps to eliminate the double tax on individuals and their businesses.
As the name implies, there is also limited liability applied to business owners. In other words, if the LLC is involved in any legal disputes, the individual owners are, in essence, shielded from personal litigation or losing personal assets if, say, a legal decision goes against the LLC.
This separation between business and individual is critical in supporting and encouraging small businesses and entrepreneurship in and around New York.
How Can I Form an LLC?
Forming an LLC in NY consists of six specific tasks, all of which will be detailed below. First, the business needs to settle on an official name. Think carefully, as this will appear on all official paperwork.
Next, a registered agent must be appointed and a business operating agreement created. Unless otherwise stated, the Secretary of State will be the default registered agent. The registered agent is an intermediary for any legal or official paperwork directed to the LLC.
The official Articles of Organization must also be filed with the New York Department of State. The company will also need to apply for an Employee Identification Number (EIN) with the federal government as part of the registration process.
Finally, the publication requirements for filing an LLC in New York must be met. This last step involves publishing in newspapers or other publications.
What are the Publication Requirements Regarding a NY State LLC Registration?
Once a business has begun becoming an LLC and filed its Articles of Organization, it will need to publish its process, business information, and a copy of the Articles within 120 days.
The notices must be published for two successive weeks in two different newspapers.
All notices should include the following:
- LLC name
- LLC’s primary business
- Articles of Organization filing date
- County location of business office
- Street address for principal LLC location
- Secretary of State listed as designated registered agent
- Official address for Secretary of State
- Listing of other official registered agents (if applicable)
- Date of dissolution (if applicable)
Should I Hire a Lawyer?
Choosing to forge your own path is commendable and makes for a strong leader and entrepreneur. But wise businessmen and women will all attest to the power of leveraging professional services.
Using a lawyer when forming an LLC allows professionals with decades of experience to cut through excessive processes and efficiently move a small business from the basement to the boardroom.
Follow These Steps For LLC Registration
Whether choosing to employ legal services or not, there are some steps each business will need to take on the path to creating an LLC.
Choosing a Name
Naming an LLC is a personal process and can, for the most part, be whichever name the founder(s) choose. There are some specific inclusions and exclusions to be mindful of, however.
- The name must include Limited Liability Company or LLC.
- The name of the LLC cannot be the same or too similar to an existing LLC. Names can be checked for availability through the state.
- Certain words or phrases are prohibited from being used in the name. Search for restricted words and phrases here.
- Final approval for the official LLC name will be granted when the Articles of Organization are filed with the state. Any necessary changes will be flagged at this time.
Reserving a Business Name
Once a name has been decided upon, the business can reserve its prospective name until the LLC process is finalized. Businesses in New York can secure names through an official application process. Although the name is secured, it is still at the discretion of the Department of State to approve the title during the review of the Articles of Organization.
Reserving a Domain Name
A website domain matching the business is essential for recognition and brand growth. By reserving or purchasing a domain name, an LLC can secure the sole rights to use the name and associated internet entities.
Getting a Trademark
Receiving a trademark for the LLC/business name helps to protect the name or business likeness and its intellectual property. This can be especially important as the business grows and becomes more well-known. A trademark helps to legally protect the LLC from imposters or scammers, among other things.
Outlining the County Location
Articles of Operation require that the primary county in which the business is located and operates be listed.
Designation for Service of Process
A Service of Process is an official designee for the LLC who is charged with receiving legal or other official notifications and paperwork on behalf of the business. The Secretary of State is the default choice unless otherwise stated.
The founder or organizer of the LLC must print and sign their name to the Article of Organization.
The name and address of the official filer of the Articles of Organization must also be listed.
Where Can You Find Help Regarding LLC Registration?
Choosing to file the paperwork officially to form an LLC doesn’t have to be complicated or stressful. At Windsor Financial Services, one of our specialties is advising clients on how to form an LLC.
Same Day Filing With Windsor
In choosing our services, clients can organize, build, and file their LLC paperwork, all within the same day.
No Extra Charges
Because helping clients realize their dreams of creating their own small business is one of our primary goals, we don’t add extra fees or charges to the process.
Get Started Today
Whether you’re ready to start the paperwork or have questions, Windsor Corporate Services are here to help. Contact us today to see how we can improve your processes.