If you are planning to form LLC in New York, then there are specific steps that you must follow. Firstly you must know that LLC stands for Limited Liability Company. It is a company that combines the limited liability of a corporation with flexibility. The best thing about forming LLC in New York is that it offers the business owner to seek limits on his or her liability for business debts. It is considered an affordable option to choose from in New York, and it is also easy to form. But there are individual specific requirements that you need to follow for effectively starting the Limited Liability Company.
- Selection of a name for your Limited Liability Company
You must choose your LLC’s name for making an LLC in NY. The name that you have selected must be distinguishable from the names of other entities.
- Submission of address details
The address details must be submitted to which the legal papers can be forwarded for the registration approval process.
- Filing of an article of organization and preparing of the operating agreement
The process of filing an organization’s article is a necessary process that must be done through mail or online process. It includes a fee of $200. Within ninety days of the filing process, the preparation of an operating agreement is done.
- Publication requirements
After the articles of an organization have become effective, the publication must be done within 120 days.
- Complying with the tax rules and regulatory
All the additional tax and regulatory requirements must have complied with your LLC.