Start Your Own Business
LLC, C-Corp, S-Corp
Non-Profit 501 (C)(3)
Sales Tax & Payroll Registration
LLC, C-Corp, S-Corp
Business Setup New York
How to Start a Business in New York?
If you are looking to open a business entity in New York City (NYC), you have several options to choose from, including LLC, C-Corp, S-Corp, and non-profit. Here is some information for opening each type of business entity.
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Open LLC
Starting an LLC in NYC is a popular choice for entrepreneurs who want to protect their personal assets and simplify their tax reporting. Here are the basic steps to form an LLC:
• Choose a name for your LLC that complies with the state's naming requirements.
• File Articles of Organization with the New York Department of State.
• Obtain any necessary licenses and permits for your business.
• Create an operating agreement that outlines the management and operation of your LLC.
• Obtain an Employer Identification Number (EIN) from the IRS if you plan to hire employees.
• By forming an LLC, you can enjoy the flexibility of a partnership with the liability protection of a corporation.
Open C-Corp
If you are looking to form a corporation in NYC, a C-Corp may be the right choice for you. Here are the basic steps to form a C-Corp:
• Choose a unique name for your corporation that complies with the state's naming requirements.
• File Articles of Incorporation with the New York Department of State.
• Obtain any necessary licenses and permits for your business.
• Create bylaws that outline the management and operation of your corporation.
• Obtain an EIN from the IRS.
• A C-Corp can offer advantages such as unlimited growth potential, separation of personal and business finances, and the ability to issue stock to raise capital.
Open S-Corp
If you want to form a corporation that can provide tax benefits and simplified management, an S-Corp may be a good option for you. Here are the basic steps to form an S-Corp:
• Form a corporation by filing Articles of Incorporation with the New York Department of State.
• Elect S-Corp status by filing Form 2553 with the IRS within 75 days of incorporating.
• Obtain any necessary licenses and permits for your business.
• Create bylaws that outline the management and operation of your corporation.
• Obtain an EIN from the IRS.
• An S-Corp can offer advantages such as pass-through taxation, limited liability, and the ability to raise capital by issuing stock.
Open Non-profit
If you are looking to start a charitable organization or other non-profit entity in NYC, here are the basic steps to follow:
• Choose a unique name for your non-profit that complies with the state's naming requirements.
• File Articles of Incorporation with the New York Department of State.
• Obtain 501(c)(3) tax-exempt status from the IRS.
• Create bylaws that outline the management and operation of your non-profit.
• Obtain any necessary licenses and permits for your non-profit.
• By forming a non-profit, you can pursue a mission that aligns with your values while enjoying tax-exempt status and limited liability protection.