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New York Incorporation Frequently Asked Questions
Do I need to reserve a corporate name?
No, but it is recommended to reserve a name prior to filing to ensure that it remains available during the incorporation process.
How do I reserve a corporate name?
The reservation of your corporate name will be handled by IncParadise and is included in the price of our service.
Do I have to renew my name registration?
No.
How do I incorporate in New York?
When using our service, IncParadise will file, on your behalf, the required administrative forms and articles of incorporation with the appropriate New York agency.
Is a registered agent required?
Yes. New York requires the Secretary of State to be designated as the agent who will receive service of process on behalf of the corporation. Additionally, a New York corporation may designate a registered agent upon whom process may be served. As part of our ongoing service, IncParadise does provide a registered agent service option that you can select during the online registration process.
How many Incorporators are required to form a corporation in New York?
One or more are required.
How many Directors are required to start a corporation in New York?
One or more as specified in the bylaws.
Are corporations in New York required to file an Annual Report?
Yes. A report must be filed during the calendar month in which the corporation’s original certificate or application for authority was filed.
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| | Does New York require a Resident Agent?The New York Secretary of State must be designated as agent for service. You must supply an address where copies can be mailed. | | Does New York have restrictions on stocks?New York articles are pre populated with 200 shares no par value stock for the corporation. There is a minimum tax of $10 on shares that the corporation is authorized to issue which must be paid at the time of the formation of the corporation. The $10 tax authorizes the corporation to issue a maximum of 200 shares no par value or a total par value of all authorized shares up to $20,000. Corporations wishing to be authorized to issue more than 200 shares no par value or a total number of shares with a par value exceeding $20,000 will incur a tax of more than $10. The tax rate is 5 cents per share of no par value stock and 1/20 of one percent (.05 percent) of the par value of shares that have a stated par value. Shares that do not have a par value may be issued or sold at any price, while shares which have a stated par value cannot be sold at a price of less than the stated par value. Most corporations are formed with 200 shares no par value. | Can I create an S corporation in New York?Yes, you may apply for a S corporation in New York, but it must be submitted to the New York State Tax Department for approval.
| LLC PublicationDo I have to publish copies of articles?
Section 206 of the Limited Liability Company Law requires that within 120 days after the effectiveness of the initial articles of organization, a limited liability company (LLC) must publish in two newspapers, a daily and a weekly, a copy of the articles of organization or a notice related to the formation of the LLC. The newspapers must be designated by the county clerk of the county in which the office of the LLC is located, as stated in the articles of organization for six weeks. After publication, the printer or publisher of each newspaper will provide you with an affidavit of publication. A Certificate of Publication, with the affidavits of publication of the newspapers attached, must be submitted to the Department of State. The cost of this can vary from county to county. |
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