In New York State, incorporating an LLC requires a $200 filing fee. When you file your articles of organization, you must pay this charge to the New York Department of State. Additionally, there is an annual charge associated with using a registered agent service to accept legal documents on your behalf. The normal annual cost of this fee is between $100 and $300.
You must post a notice of the establishment of your LLC in two newspapers for a period of six weeks in addition to paying the filing fee, according to New York State regulations. Your LLC formation fees may increase by several hundred dollars as a result of this publication requirement. Depending on the newspapers you select and their circulation, the cost of publication varies.
If you decide to employ an attorney to assist you with the LLC formation procedure, in addition to meeting the state criteria, you can also be required to pay legal fees. Although the cost of legal services can vary greatly, you should budget between $500 and $1,500 to hire an attorney to help you create an LLC.
Let’s now discuss the further linked questions. How does one launch a company in New York? You must select a business structure, register with the state, receive any necessary licenses and permissions, and apply for an EIN from the IRS in order to start a business in New York. You might also need to buy insurance and register for state taxes.
In a DBA, which name comes first? The business name comes first in a DBA (Doing Business As) name, followed by the name of the owner. For instance, John Smith’s DBA would be Smith Consulting, John Smith if he owned a company by that name.
Can a business name be registered but not used? You can indeed register a business name even if you never use it. To prevent the name from being leaked, you might need to periodically renew your registration if you do not use the name. Additionally, you might be charged with trademark infringement if you register a name that is confusingly similar to that of another company.
Can a DBA be trademarked? No, a DBA cannot be trademarked. A DBA is only a name that a company uses; it is not legally protected like a trademark. You must file a trademark application with the US Patent and Trademark Office if you wish to safeguard your company name.
In conclusion, setting up an LLC in New York State can be a great method to safeguard your personal assets and build a manageable and adaptable corporate structure. Although there are expenses involved with creating an LLC, these expenses are little in comparison to the advantages of doing so. Additionally, you can organize your business wisely and safeguard your personal assets by being aware of the conditions and expenditures involved in creating an LLC.
The name that is registered with the state and is used for all official and legal purposes is the legal name of a business. The term “doing business as” (DBA) refers to the moniker that a company uses for branding and marketing. A trade name, assumed name, or fictional name are other names for it. When a company wants to operate under a name other than its legal name, it uses this method.