How Much Does It Cost to Open an LLC in NYC?
New York City is a bustling metropolis, and it's no surprise that many entrepreneurs choose to set up their businesses there. If you're one of them, you may be wondering how much it will cost to open an LLC in NYC.
The cost of forming an LLC in New York can vary depending on several factors, including:
- The type of LLC you choose: There are two main types of LLCs in New York: a domestic LLC and a foreign LLC. A domestic LLC is formed by a resident of New York, while a foreign LLC is formed by a non-resident. The fees for forming a domestic LLC are generally lower than the fees for forming a foreign LLC.
- The services you need: In addition to the state filing fees, you may also need to pay for other services, such as:
- Registered agent services: A registered agent is a person or entity that receives legal documents on behalf of your LLC.
- Operating agreement: An operating agreement is a legal document that outlines the rights and responsibilities of your LLC's members.
- Permits and licenses: Depending on the type of business you're starting, you may need to obtain permits and licenses from the city or state.
State Filing Fees
The state filing fees for forming an LLC in New York are relatively low. The initial filing fee is $200. You will also need to pay an annual maintenance fee of $250.
Tip: Don’t just scroll to the end — the middle counts too.
 |
| How Much Does It Cost To Open An Llc In Nyc |
Other Costs
In addition to the state filing fees, you can expect to pay for other costs, such as:
- Registered agent services: The cost of registered agent services can vary depending on the provider. You can expect to pay anywhere from $100 to $300 per year.
- Operating agreement: If you're hiring an attorney to draft your operating agreement, you can expect to pay several hundred dollars. However, you can also find templates online for a fraction of the cost.
- Permits and licenses: The cost of permits and licenses will vary depending on the type of business you're starting.
Total Cost
Tip: Reread sections you didn’t fully grasp.
The total cost of forming an LLC in New York will depend on the factors listed above. However, you can expect to pay anywhere from $500 to $1,000.
Tips for Saving Money
Here are a few tips for saving money when forming an LLC in New York:
 |
- Do your research: There are many online resources that can help you understand the LLC formation process.
- Consider using an online formation service: Online formation services can help you complete the LLC formation process quickly and easily.
- Shop around for registered agent services: There are many registered agent providers to choose from. Be sure to shop around to find the best price.
- Draft your own operating agreement: If you're comfortable doing so, you can draft your own operating agreement using an online template.
QuickTip: Reading twice makes retention stronger.
FAQs
How to choose a registered agent for your LLC?
A registered agent is a person or entity that receives legal documents on behalf of your LLC. When choosing a registered agent, you should consider the following factors:
- Cost: The cost of registered agent services can vary depending on the provider.
- Reputation: You want to choose a registered agent with a good reputation.
- Location: Your registered agent must have a physical address in New York.
How to get an EIN for your LLC?
An EIN is an employer identification number. It is used by the IRS to identify your LLC for tax purposes. You can apply for an EIN online at the IRS website.
Tip: Look out for transitions like ‘however’ or ‘but’.
How to file your LLC's annual report?
Your LLC must file an annual report with the New York Department of State. The annual report is due on April 1st of each year.
How to dissolve your LLC?
If you want to dissolve your LLC, you must file a certificate of dissolution with the New York Department of State.
How to change your LLC's name?
If you want to change your LLC's name, you must file an amendment to your articles of organization with the New York Department of State.
I hope this blog post has been helpful. If you have any questions, please feel free to leave a comment below.
Additional Resources
- New York Department of State:
https://dos.ny.gov/existing-corporations-and-businesses - IRS:
https://www.irs.gov/ - LegalZoom:
https://www.legalzoom.com/ - Incfile:
https://info.incfile.com/services
 |
💡 This page may contain affiliate links — we may earn a small commission at no extra cost to you.
