New York LLCs Registration Requirements and Fees | (2023)

How much does it cost to open an LLC in New York?

Legally registering a company – and maintaining a good reputation for your company – requires investment. We've summarized some of the more common costs here. Some of these are owed to the New York Secretary of State, while others are owed to the federal government or another government agency.

Please note that New York business license and licensing fees may be due when you first open your business, either on an ongoing basis or on an ad hoc basis. Below you will find more details.

New York LLC Initial Registration Fee

When you first register your company, you will need to fill out forms with the NYS Secretary of State and pay a registration fee. Here are the current New York LLC filing fees and time:

State tax State filing time Accelerated filing time
205 $ * 3 weeks 1 working day
State tax 205 $ *
State filing time 3 weeks
Accelerated filing time 1 working day

*includes $5 paper copy fee

When you use Incfile to register your New York LLC, we charge the state filing fee and forward it to the Secretary of State when we file your incorporation documents.

Incfile can file your formation documents for free - you just need to pay the required New York LLC filing fee

Form your LLC today through Incfile

New York allows you to form your LLC faster by paying a contingency fee

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Employee ID number

Any U.S. LLC must have a unique employer identification number (ONE) of the tax authorities. You use it when you open a business bank account, file taxes, and pay employees. You can get one directly from the IRS or Incfile can arrange one for you.

(Video) New York LLC - Forming an LLC in NY

Get an EIN for your LLC through Incfile

foreign LLCs

If you want to do business in a state other than where your company is located, you must form a foreign LLC.

New York Foreign LLC registration

Before you can bring a branch of your out-of-state business to New York, you must apply for New York Foreign Certification. The state gives you permission to do business there by issuing a NYS Certificate of Authorization.

To register a foreign LLC in New York, you must have aAuthorization Requirementand pay a $250 processing fee. You must also attach a certificate of existence from the state where your LLC is located.

Your state may have additional registration requirements, so contact the New York Secretary of State directly for more information and to ensure you are in compliance with state law.

Qualifications of a foreigner to work in another state

If you plan to use yourNew York LLCin another state, you will first need a foreign degree or certificate of competency from that state. This is required to be able to establish a physical presence, hire employees or bank in this state.

You will likely need to fill out at least one application and pay a registration fee, but each state has its own requirements. Compare before starting the processi.e. filing timesmstate filing feesso you can plan accordingly.

In particular, contact the government agency running the business (usually the Secretary of State) to confirm your needs and get specific instructions.

If you need help, Incfile offers a full overseas certification service for all states.

Obtain a foreign certificate or certificate of competence through Incfile

New York Biennial Exhibition

Most states require business entities to file an annual (or other periodic) report. In this situation, you must submit a New York Biennial exhibition. You godo it online, and pay a $9 deposit fee.

Annual report


every two years


During the jubilee month of the organization.




Section 206 of the New York Limited Liability Company Law requires a limited liability company (LLC) to publish in two newspapers, within 120 days after the effective date of the original articles of incorporation, a copy of the articles of incorporation or a notice of its formation LLC. Newspapers must be designated by the clerk of the county in which the LLC's office is located, as specified in the Articles of Incorporation. After publication, the printer or publisher of each newspaper will provide you with an affidavit of publication. A certificate of publication, attached to journal publication statements, should be mailed to the New York State Department, Division of Corporations, One Commerce Plaza, 99 Washington Avenue, Albany, NY 12231. The fee for filing the certificate of publication The cost of publication 50 dollars.

(We do not assist in completing the publication request)

(Video) Publication Requirements for New York LLCs

Incfile can also complete and submit your NYS Biennial Report for you.

Filing service for annual reports

New York Business Licensing and Licensing Requirements

Before doing business, you must obtain the necessary state, federal, or local licenses.commercial licensesand authorizations to operate your LLC. Some charges only need to be paid once, others may be ongoing charges.

Rights and permissions vary by:


The location of your LLC (state, county, or city) (for example, Albany business license)


The type of business you run (for example, healthcare providers must meet HIPAA requirements)


The industry your LLC operates in (eg restaurants require health permits)

Operating your LLC without the business license required by New York State can leave you vulnerable to risks such as fines from local, state and federal governments.

You can conduct a New York business license search on your own or use Incfile's business license search package, which includes:

  • A complete report on all licenses, permits and tax filings your New York LLC needs
  • The application forms you must complete with state, regional and federal licensing authorities
(Video) How to Start an LLC & EIN in New York in 2023 (3 Methods) | New York LLC Publication Requirement
Purchase the Incfile Business License Search Package

New York LLC operating agreement requirements

By outlining how your business will be run, how directors and members will be elected, members' rights and obligations, and a number of other important areas, an operating agreement can save you a lot of headaches as a business owner.

Some states do not require commercial entities to have them, but forArticle 417of the New York Limited Liability Company Law, you must have a New York LLC operating agreement.

You do not need to file the contract with the New York Secretary of State, but have it on hand to comply with legal requirements and also to protect your business against future changes and events.

Incfile can prepare a generic model New York LLC Operating Agreement when you form your company.

You can change the template based on your unique requirements.

Learn more about operating agreements

Other Charges and Claims New York LLC

You may be required to pay and cover many other fees and claims during the life of your LLC. These ad hoc fees are payable only under the special circumstances set out below.

Get an assumed name or DBA

If youNYS DBA(fake name), you need aApproved name certificatewith the Division of Corporations and pay a $25 registration fee.

Incfile may submit your fake name or DBA forms on your behalf

Incfile's alleged name service in New York

Change of registered agent

Your LLC must have aRegistered agent in New York, which you must name when submitting your Articles of Organization.

You can also transfer to a new registered agent later by completing oneLLC Moving Certificateform and paying a $30 fee.

Let Incfile serve as your registered agent.

It's free for the first year if you work with us to register a New York LLC and $119 the following year.

Use our trusted registered agent service
(Video) New York LLC Publication Requirement - Save Money

Reserve a name for your LLC

If you are not yet ready to start your business, you can reserve a name for 30 days with the Secretary of State untilReservation request nameand paying a $20 fee.

Make one firstNew York business searchand learn your state's naming rules to make sure you choose a name that meets legal requirements.

Change information about your LLC

Your company incorporation paperwork lists certain information about your company at the time it was incorporated. Over time, some or all of this information may change. If this happens, you must file a reportCertificate of Changewith the Secretary of State along with a $60 filing fee.

You can do it yourself or Incfile can do it for you.

You can submit amending articles when:

  • Change the name of your LLC
  • Add, remove or change an LLC member or manager
  • Change your LLC's stated purpose and activities
  • Change your LLC's business address
Incfile change submission service

Get a certificate of good standing in New York

Some organizations may ask you to prove that your LLC is in compliance with tax laws and requirements. In many states, this proof is provided with a Certificate of Good Standing.

Instead of a New York Certificate of Good Standing, the state calls this proof a New York Certificate of Existence or a New York Certificate of Status. To get one you needsubmit a written application(no form) to the State Department and includes a $25 fee.

Incfile can obtain a certificate of existence on your behalf

certificate of regular service

The information listed above describes many of the fees a typical New York LLC must pay. In some cases there may be other one-off, recurring or ad hoc charges not listed above.

Of course, your LLC will likely also have to pay self-employment, payroll, federal, state and other taxes. More information about taxes can be found atNew York business taxpage.

(Video) What is the New York LLC Publishing Requirement?


How much does it cost to register an LLC in NY? ›

The fee for filing the Articles of Organization is $200. The fee may be paid by cash, check, money order, MasterCard, Visa or American Express. Checks and money orders should be made payable to the “Department of State.” Do not send cash through the mail.

What are the requirements for an LLC in NY? ›

  • Name your New York LLC.
  • Submit an address to which legal documents can be forwarded and choose your registered agent.
  • Prepare and file Articles of Organization.
  • Publish your Articles of Organization in two newspapers.
  • Create an operating agreement.
  • Receive a certificate from the state.
  • Get an Employer Identification Number.
May 16, 2023

How much does it cost to maintain an LLC in NYC? ›

LLC fee
New York Gross IncomeAnnual Fee
$0 – $99,999$25
$100,000 – $249,999$50
$250,000 – $499,999$175
$500,000 – $999,999$500
3 more rows

How long does it take for an LLC to be approved in NY? ›

Mail filings: In total, mail filing approvals for New York LLCs take 8 1/2 months. This accounts for the 8 month processing time, plus the time your documents are in the mail. Online filings: Online filings for New York LLCs are approved immediately if you file your documents during business hours.

How much is a EIN number in NY? ›

Applying for an EIN for your New York LLC is completely free. The IRS doesn't charge any service fees for the online Tax ID application.

Can I open LLC by myself NYC? ›

Doing it yourself is a popular choice for businesses that want the most cost-effective start-up option. Aside from the state fees, there is no additional cost. The New York Department of State has excellent resources that provide guidance for how to register an LLC in New York and all the LLC requirements.

Does an LLC need a business license in NY? ›

New York requires all businesses operating under a business name to register as a legal entity to operate a business. Limited liability companies (LLCs) and corporations must register with the state.

How do I form an LLC in NY by myself? ›

How to create an LLC in New York: 8 Steps
  1. Step 1: Choose a name for your LLC. ...
  2. Step 2: Provide an address for receiving official mail. ...
  3. Step 3: File your articles of organization. ...
  4. Step 4: Obtain the proper New York business permits. ...
  5. Step 5: Publish notice of LLC formation. ...
  6. Step 6: Create an LLC operating agreement.
Oct 28, 2021

How much is the annual renewal fee for an LLC in New York? ›

All New York LLCs need to pay $9 every other year for the Biennial Report. These state fees are paid to the Secretary of State. And this is the only state-required fee paid every 2 years. You have to pay this to keep your LLC in good standing.

Do I have to renew my LLC every year in New York? ›

This field is mandatory for New York State. Certain partnerships, limited liability companies (LLCs), and limited liability partnerships (LLPs) must pay an annual filing fee using Form IT-204-LL, Partnership, Limited Liability Company, and Limited Liability Partnership Filing Fee Payment Form.

Is New York good for LLC? ›

The main advantage of a New York LLC is that it offers limited liability protection like a corporation. But, unlike a corporation, LLCs are simple to run and maintain. Other benefits of an LLC vs other business structures are: Pass-through taxation.

How do I get an EIN in New York? ›

You can get your EIN by: visiting the IRS at Apply for an Employer Identification Number (EIN) Online, or. calling the IRS at 1 800 829-4933, or. sending the IRS federal form SS-4, Application for Employer Identification Number.

What is the difference between an LLC and an S Corp? ›

The biggest difference between S corporations and LLCs is how they are taxed. S corporations are taxed as pass-through entities, meaning that the profits and losses are passed through to the shareholders' personal tax returns, while LLCs can choose to be taxed as either a pass-through entity or a corporation.

How long does it take to register a business in NY? ›

The Secretary of State takes approximately 4 weeks to process filings. Filings can be expedited for $25 and will be completed within 24 hours.

Is a New York State tax ID the same as an EIN? ›

Is an EIN the same as a NYS vendor ID number? An employer identification number (EIN) or federal tax identification number is different than a NYS vendor ID number. An EIN is issued by the IRS and is used to identify a business entity and federal business tax returns.

Is a tax ID and EIN the same? ›

EIN. An Employer Identification Number (EIN) is also known as a federal tax identification number, and is used to identify a business entity. It is also used by estates and trusts which have income which is required to be reported on Form 1041, U.S. Income Tax Return for Estates and Trusts.

Is it worth getting an EIN? ›

It helps you file business taxes and avoid tax penalties

If you're self-employed or you're an independent contractor, you're responsible for paying both your personal and business taxes. By getting an EIN, you can better organize your business taxes separately from your personal taxes, making the process a lot simpler.

Can I be my own registered agent for my LLC in NY? ›

If you live in New York, you have the right to serve as your own registered agent. By default, the New York Secretary of State will be your registered agent. After your LLC is formed, however, you should find a new registered agent.

Does NY allow anonymous LLC? ›

Alternatively, if you live in a state that does not allow the filing for an anonymous LLC, you can use a double LLC/Holding company setup. For instance, if an owner must be listed, then make the owner an anonymous company from another state. New York does not allow the withholding of owner information.

Can I live in New York and have an LLC in another state? ›

When you decide to start a limited liability company (LLC), you can choose to form your company in any state, regardless of where you are based.

Can a New York LLC do business in another state? ›

A corporation, LLC, LP or LLP cannot just transact business in states other than its home state. A corporation doing business in another state needs the other state's permission to transact business there.

How do I register my business name in NY? ›

You must file the certificate in the office of the County Clerk in the county where your business is located. Get the Certificate of Assumed Name form. You can also get the form at the County Clerk's office in your borough. For sole proprietors and general partnerships, the filing fee varies by county.

How do I publish an LLC in NY? ›

To meet the New York LLC publication requirement, all limited liability companies (along with LPs, LLPs, and PLLCs) doing business in New York must: publish legal notices in two local newspapers for six weeks. obtain an Affidavit of Publication. file a Certificate of Publication with the New York Department of State.

Does New York allow single member LLC? ›

Single-member LLCs are established in New York by filing Articles of Organization with the Department of State. The name of the LLC must be distinct from those currently in existence.

Do LLCs pay franchise tax in NY? ›

New York LLCs and LLPs are not required to pay federal or state income tax. Instead, these entities must pay filing fees in accordance with their gross income, as illustrated in the table below.

How often do you have to renew your LLC in NY? ›

Domestic and foreign limited liability companies (LLCs) are required by Section 301(e) of the Limited Liability Company Law to file a Biennial Statement every two years with the New York Department of State setting forth the address to which the New York Secretary of State shall mail a copy of any process accepted on ...

What is a disregarded entity? ›

A disregarded entity is a business entity that (1) has a single owner, (2) is not organized as a corporation, and (3) has not elected to be taxed as a separate entity for federal tax purposes. The owner of a disregarded entity reports the income of the disregarded entity on the owner's return.

What is an IT 204? ›

Use Form IT-204 to report income, deductions, gains, losses, and credits from the operation of a partnership for calendar year 2022, or other tax year beginning in 2022.

Is there always a period after LLC? ›

Most states allow “LLC” with or without periods and the full spelling of “Limited Liability Company.” When it comes to commas, though, that's entirely up to you.

What is the penalty for filing taxes late in NY? ›

Penalty for late filing

5% of the tax due for each month (or part of a month) the return is late, up to a maximum of 25% If your return is more than 60 days late, your minimum penalty is the lesser of $100 or the total amount due on the return.

Is there a fee to file Form 2553? ›

IRS Form 2553 does not have a filing fee, however, a business owner should be aware that there can be some other costs associated with electing to be taxed as an S Corp. For example, if the company is using “business purpose” to justify its fiscal year, it will incur a $5,800 fee following filing Form 2553.

What are the disadvantages of an LLC in NY? ›

LLC cons: Unlike a corporation, an LLC cannot issue shares of stock to raise capital. Any new investor would need to become a member of the LLC, which is a more complicated process. Furthermore, many outside investors consider LLCs risky, and prefer to invest in corporations.

Is there a downside to an LLC? ›

Disadvantages of creating an LLC

Cost: An LLC usually costs more to form and maintain than a sole proprietorship or general partnership. States charge an initial formation fee. Many states also impose ongoing fees, such as annual report and/or franchise tax fees. Check with your Secretary of State's office.

What is the best State to file a LLC in the US? ›

5 Best States to Start an LLC
  1. Delaware. Delaware has a longstanding reputation for being one of the most business-friendly states in the nation. ...
  2. Nevada. Nevada is another state that draws a lot of attention from business owners who want to avoid paying high taxes. ...
  3. Wyoming. ...
  4. Alaska. ...
  5. South Dakota.
Mar 28, 2023

Is EIN free in NYC? ›

You can apply for an EIN through the Internal Revenue Service (IRS). This service is provided for free.

What does EIN number stand for? ›

An Employer Identification Number (EIN), also known as a Federal Tax Identification Number, is used to identify a business entity.

How long does it take to get a tax ID in New York? ›

Unless you apply through a CAA, you will need to send your original, physical documents (i.e., Passport, Birth Certificate, Driver's License) to the IRS, and they will hold onto the items until they have processed your ITIN application (6-8 weeks during the off-season, 9-11 weeks during the tax filing season).

Why would anyone choose LLC over S Corp? ›

Advantages of LLCs over S corporations. One of the reasons many people prefer the LLC over the corporation is that there is more flexibility in how it is managed. Corporation laws (which, as noted apply equally to S corps and C corps) contain more provisions regarding managing the company than LLC laws.

Is it better to tax LLC as an S Corp? ›

As an LLC owner, you'll incur steep self employment taxes on all net earnings from your business, whereas an S corporation classification would allow you to only pay those taxes on the salary you take from your company. However, itemized deductions could make an LLC a more lucrative choice for tax purposes.

Should I start out as an LLC or S Corp? ›

In general, the smaller, simpler, and more personally managed the business is, the more appropriate the LLC structure would be for the owner. If your business is larger and more complex, an S corporation structure would likely be more appropriate.

How long does LLC approval take in NY? ›

Mail filings: In total, mail filing approvals for New York LLCs take 8 1/2 months. This accounts for the 8 month processing time, plus the time your documents are in the mail. Online filings: Online filings for New York LLCs are approved immediately if you file your documents during business hours.

How much does it cost to register a business in NY? ›

Filing the Articles of Organization

By mail, send the completed Articles of Organization with the filing fee of $200 to the New York State Department of State, Division of Corporations, State Records and Uniform Commercial Code, One Commerce Plaza, 99 Washington Avenue, Albany, New York 12231.

Do I need to register my out of state business in New York? ›

Out-of-state corporations doing business in New York may need a Certificate of Authority. This certificate comes from the New York State Department of State (NYSDOS). Businesses should consult an attorney to learn about legal structures.

How long does it take to set up a business? ›

How Long Does It Take to Build a Business? Building the fundamentals of a small business can take about a year but most small businesses take at least two to three years to reach profitability.

How do I publish my LLC in a newspaper in NY? ›

The New York LLC Publication Requirement
  1. publish legal notices in two local newspapers for six weeks.
  2. obtain an Affidavit of Publication.
  3. file a Certificate of Publication with the New York Department of State.

How long does it take to open an S Corp in NY? ›

Creating a New York State S Corp

You must file Form CT-6 to receive approval from the state. Fax this form along with a copy of your federal S corp approval letter to 518-435-8605. After filing for S corp status, you will receive your approval paperwork within a few days.

How long does it take for Florida to approve an LLC? ›

How long does it take to file an LLC in Florida? If filing your Florida LLC with Incfile, the standard processing time from filing your Articles of Organization to being legally created as a Florida LLC is 15 business days. You can also pay an expedited filing fee to have your Florida LLC created in five days.

How much profit should a business make in the first year? ›

Most businesses don't make any profit in their first year of business, according to Forbes. In fact, most new businesses need 18 to 24 months to reach profitability. And then there's the reality that 25 percent of new businesses fail in their first year, according to the Small Business Administration.

How do I start my own business from scratch? ›

How to Start a Business From Scratch
  1. Start with a Good Business Idea. If you're wondering how to start a business, it may be easier than you think. ...
  2. Conduct Research About Your Business Idea. ...
  3. Write a Business Plan. ...
  4. Make Your New Business Official. ...
  5. Know Your Finances. ...
  6. Protect Your Business. ...
  7. Build Your Business.

What percentage of new businesses fail? ›

Data from the BLS shows that approximately 20% of new businesses fail during the first two years of being open, 45% during the first five years, and 65% during the first 10 years. Only 25% of new businesses make it to 15 years or more.

What happens if I do not publish my LLC in NY? ›

Limited liability companies that fail to comply with the publication requirements within 120 days after their formation or qualification will have their authority to carry on, conduct or transact any business suspended.

What is the cheapest county to publish an LLC in New York? ›

The cheapest counties are Niagara and Wyoming, where the filing fee is only $50, and the publication fee is $0, for a total of $50. There are several ways to save money on publication fees in New York.

Should I set up an LLC to publish a book? ›

The point: no author is completely safe from impending lawsuits. But, if you have income and assets to protect, forming a corporation or an LLC can help you protect yourself in the event of litigation.

What is the 2 year rule for S-corp? ›

If, after the 2-year period, the trust continues to hold S corporation stock and does not otherwise qualify as a permitted shareholder, the corporation's S election terminates. If the termination is inadvertent, the corporation may request relief under section 1362(f).

What is the difference between an LLC and an S-corp in New York City? ›

An S-Corporation is an elective tax classification that offers liability safeguards and transfers income through to the owners. On the other hand, an LLC is a structured business entity that functions to protect its owners from legal actions.

How much does it cost to file for an S-corp in NY? ›

$25 – Receipts not exceeding $100,000. $50 – Receipts exceeding $100,000 but not more than $250,000.

Is it better to start LLC in Florida? ›

Advantages of forming an LLC in Florida

Forming an LLC in Florida also offers: Pass-through taxation. LLCs typically enjoy pass-through taxation where the members (owners) report their share of the LLC's profit or loss on their individual tax returns. Any tax due is then paid at the individual level.

Do LLCs pay taxes in Florida? ›

Florida is a tax-friendly state that does not impose an income tax on individuals, and has a 6% sales tax. Corporations that do business in Florida are subject to a 5.5% income tax. However, LLCs, sole proprietorships and S corporations are, however, exempt from paying state income tax.

How much does it cost to open an LLC in Florida? ›

LLC Fees
Annual Report (& Supplemental Fee)$ 138.75
New Florida/Foreign LLC
Filing Fee (Required)$ 100.00
Registered Agent Fee (Required)$ 25.00
Total Fee For New Florida/Foreign LLC$ 125.00
18 more rows


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