Everything you need to know about forming and maintaining a business entity in New York.
Annual Report Due
Anniversary
Processing Time
3-7 business days
Annual Report State Filing Fee
$200
Registered Agent
Required
| Filing Type | Due Date | CLS Fee | State Processing Time | State Fee |
|---|---|---|---|---|
| Formation | N/A | $100 | 7-10 days | $200 |
| Annual Report | Anniversary | $50 | 7-10 days | $9 |
| Franchise Tax | March 15 | — | N/A | From $25 |
| Amendment | N/A | $100 | 7-10 days | $60 |
| Dissolution | N/A | $100 | 10-15 days | $60 |
| Foreign Qualification | N/A | $100 | 10-15 days | $250 |
* State fees are subject to change. Contact the Secretary of State for current fee schedules.
Franchise Tax Applies
Franchise tax based on various factors including capital
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Common questions about forming and maintaining a business in New York.
New York requires newly formed LLCs to publish notice of formation in two newspapers (one daily, one weekly) for six consecutive weeks in the county where the LLC's office is located. This can cost $50-$2,000+ depending on the county, with NYC being most expensive.
Publication costs vary dramatically by county. Albany County is typically the cheapest option. If your LLC has no physical office in NY, you may be able to use your registered agent's county. Some LLCs also wait to see if the requirement will be enforced before publishing.
NY franchise tax is calculated using one of several methods, including net income, capital, or minimum tax. Most small businesses pay based on NY net income with rates from 6.5-7.25%, but there's always a minimum tax starting at $25.
Operating in multiple states? Explore compliance requirements for nearby states.
Content reference: CCP-6633B01628CE