Possibly you have been working on a part-time job in Brooklyn for some time and your client has asked you to make things a bit more official for them. Or possibly you have decided you are ready to leave your traditional job in midtown behind and work for yourself. Whatever it is, it’s exciting—but now you need to figure out the steps for how to set up an LLC in New York City (NYC).
In case you feel like there is something more special about being in business in the NYC, you are not alone. It is exciting to set up shop here, and planning an LLC as a freelancer isn’t that challenging—so why not!
Definitely, simply as NYC feels a little more, so too are their rules. In US, every state has various requirements to set up an LLC, so the steps for setting up an LLC in the New York City are a little different than others.
There are such a lot of advantages for setting up an LLC in New York City and securing yourself and your liabilities. Let’s go through the steps that you need to consider in New York City to make certain that your LLC fulfils with all of your state laws.
Here we will show you one thing that you can do to keep your small business hundreds of dollars throughout the formation process.
Are You Eligible to Set Up a Business in New York?
The requirements for setting up an LLC in New York City are no different than the requirements for setting up an LLC in other areas of New York. You can get all the details you need to set up your LLC at the New York Department of State website.
Are You Legally Approved to Run Business in New York City
Even though setting up an LLC in New York City is similar to the rest of the state, there are so many licensing and other requirements that you might need to meet to legitimately run a small business. And if you don’t, you may experience a huge cash penalty.
Setting Up an LLC in New York City
Let’s count on that all is okay with your zoning and the licensing requirements to your business. Now how, do you go about setting up your LLC in the New York City?
- Pick a Name for Your LLC
You will be satisfied to find out that there are exceptionally some requirements here. Your LLC formed business needs to follow with these rules:
- Your business must contain “LLC” word
- Your business should not contain restricted words or phrases
- Your business name should be unique from other LLCs in your area
- Pick a Registered Agent
This isn’t necessarily required, due to the fact that the New York Secretary of State acts as your registered agent by default. However you would possibly need to pick a registered agent located outside the New York City.
- File Your Articles of Organization
Articles of organization is the document that makes your LLC formed business its own legal entity. You don’t have to have a lawyer to create or file the articles of organization; however just because it is a legal document, you need to consider using one. You can pay the filing fee by cash, money order, check, Master/Visa or by American Express.
- Publish Your Notice of Formation in Newspapers
In order for your LLC formed business to be officially announced, you have to publish a copy of your articles of corporation in daily or weekly newspaper, for six weeks, inside 120 days of the formation of your LLC. Instead of the articles of corporation, you can instead publish a related notice announcing the formation of your LLC. After the publication is done, you have to submit a Certificate of Publication to the New York Department of State with $50 filing fee.
Every state have different set of laws and regulations for filing. But if you are setting up LLC in New York, these guidelines will definitely help you throughout the process.