Vizdoaga Law Office is here to provide assistance on all of the steps required to establish and legally operate your business in New York. But first, why do you need an LLC? Forming an LLC would help you and your partners to run a business for profit.

Members of an LLC have limited liability for the obligations and debts of the business.

The advantage of forming an LLC is that it has simpler record-keeping rules and it protects your personal assets. Also, you get to decide how you are taxed—as an LLC or as a corporation—for potential tax benefits.

There are five important steps when opening your business in New York:

I. The first step is choosing a distinguishable business name for your LLC. We will verify whether your chosen business name is available and if it complies with existing New York requirements.

II. The second step is registering your LLC and filing the Articles of Organization with the New York Department of State, Division of Corporations. 

The members of an LLC are required to adopt a written Operating Agreement, which is an internal document that establishes the rights, powers, duties, liabilities and obligations of the members between themselves and with respect to the LLC.

III. The third step is publishing the LLC formation notice and submitting the publication certification to the New York State.

NY Law requires that a copy of the Articles of Organization or a notice related to the formation of the newly formed LLC to be published in two newspapers for six consecutive weeks.

Failure to publish and file the Certificate of Publication with the Department of State within 120 days will result in the suspension of the LLC’s authority to carry on, conduct or transact business.

IV. The fourth step is applying for an Employment Identification Number (EIN) This is a federal tax identification number that you will need in order to open a business bank account, file taxes, hire employees and engage in other business.

V. Finally, keep your LLC active and in compliance with New York State law.

To start running your LLC, consider whether you will need a business license depending on the nature of your business. In addition, there are certain requirements for advertising the services of your business to make sure your business is compliant.

Vizdoaga Law Office is ready to assist you with all of the above-mentioned steps. We will make sure that the registration of the business of your dreams is perfectly legal and will save you time, costs and money now in the future. Contact us for a consultation now and get the advice you need.