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New York Corporation Requirements
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.
Cost to incorporate in New York
At BizFilings, we clearly outline our fees and the state fees to form a New York corporation. View our pricing to incorporate as a C corporation or S corporation to plainly see:
- BizFilings’ package prices. BizFilings offers three incorporation service packages from which you can choose.
- State fee for standard turn-around. Our pricing clearly shows the state fee to incorporate in New York with standard turn-around.
- Expedited turn-around. You will see the BizFilings and state fee, if any, for expedited turn-around.
- 24-hour turn-around. New York has a 24-hour filing option, which is outlined in our pricing.
- Certified copy. Our pricing also clearly displays the BizFilings and state fee, if any, for issuing a Certified Copy of the Certificate of Incorporation.
New York Corporate Name
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.
Director information
The following are New York’s requirements for directors of corporations:
- Minimum number. Corporations must have one or more directors.
- Residence requirements. New York does not have a provision specifying where directors must reside.
- Age requirements. Directors must be at least 18 years old.
- Inclusion in the Certificate of Incorporation. Director names and addresses are not required to be listed in the Certificate of Incorporation.
Requirements for the Certificate of Incorporation
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:
- Officers. Officer names and addresses are not required to be listed in the Certificate of Incorporation.
- Stock. Authorized shares and par value must be listed in the Certificate of Incorporation. An increase in the number of shares or par value can affect initial filing fees.
- Registered agent. Listing the name and address of a registered agent is optional in New York. Corporations must, however, include the address to which legal documents, such as Service of Process, should be sent. The registered agent or person at the Service of Process address must be available during normal business hours.
Professional services businesses
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 corporate records
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:
- Complete books and records of account
- Minutes of shareholder, director and executive committee (if any) meetings
- A list of the names and addresses of all shareholders, the number and class of shares held by each, and the date each became a shareholder
New York corporate taxes and fees
The following are taxation requirements and ongoing fees for New York corporations:
- Biennial report. New York requires corporations to file a biennial (every two years) report during the anniversary month of the incorporation. The filing fee is $9.
- Taxes. For complete details on state taxes for New York corporations, visit Business Owner's Toolkit or the State of New York .
- Federal tax identification number (EIN). An EIN is required for corporations that will have employees. Additionally, most banks require an EIN in order to open a business bank account.
- State tax identification number. New York does not require a state tax identification number.
New York business licenses
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.
S corporation election
New York does not recognize the federal S corporation election and does require a state-level S corporation election.
Additional New York information
View the following additional resources BizFilings has for forming and maintaining companies in New York:
State Guides
The state in which you form your company can provide certain benefits.
Please select both a state and a topic.
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