Each state has different requirements for forming a corporation. Whether you are starting a business or incorporating a business already in existence, you’ll want to understand state requirements for New York incorporation.
The name must contain the word "Corporation," "Incorporated," "Limited" or an abbreviation thereof. All abbreviations must end with a period. Accent marks cannot be used in the name. The name may not be the same as or so similar or confusing to that of any domestic or authorized foreign corporation or reserved name. The name may not contain any word or phrase indicating the corporation is formed for any purpose other than that included in its Certificate of Incorporation. The use of certain enumerated words and abbreviations pertaining to banking, insurance and various professions is prohibited or restricted.
The following are New York’s requirements for directors of corporations:
The document required to form a corporation in New York is called the Certificate of Incorporation. The information required in the formation document varies by state. New York's requirements include:
New York allows professionals, such as accountants, attorneys and physicians, to form a professional corporation (PC).
After forming a corporation, you must undertake certain steps on an ongoing basis to keep your business in compliance. These steps are also important in preserving the limited liability a corporation provides its owners. This guide outlines the ongoing requirements for New York corporations.
New York corporations must keep the following items with their corporate records at the principal place of business in New York or with the transfer/registered agent:
The following are taxation requirements and ongoing fees for New York corporations:
Business licenses and/or permits are required for most businesses. The BizFilings Business License Application Package can help you stay on top of these requirements.
New York does not recognize the federal S corporation election and does require a state-level S corporation election.
The state in which you form your company can provide certain benefits.
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