Wednesday, February 14, 2024

How To Register A Small Business In New York

Church Controlled Organization Tax Id

How to Register Your New Company with the State

Church-controlled organizations arent exempt from needing federal ID numbers. If your church-controlled organization hasnt applied for its federal tax ID number yet, IRS-EIN-TAX-ID can help. On your behalf, we file the appropriate paperwork and get your tax ID number back to you quickly. Our filing process is secure and we work 24/7 saving you time and making filing convenient for you.

Free Mail Forwarding Business Address And More

At Northwest, we do everything a registered agent should do and more. You can list our address as your business address on your state filings. We include limited digital mail forwarding with registered agent service .

Plan on accepting credit cards? We also offer a Free Credit Card Processing Consultation. Our specialists work with processors to negotiate low rates and better contracts for our clients.

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How Do I Get A Business License In Nyc

  • Find out what licensing requirements you have.
  • There are a number of commonly used business legal structures.
  • You can learn more about New York City businesses by clicking on the Business Wizard.
  • Your business needs to be registered.
  • You will need a professional license.
  • Assume or fictitious business names should be registered.
  • You need to register a trademark or service mark.
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    Get The Necessary Licenses And Permits

    Depending on the type of business you are opening, you may need to apply for a number of permits and licenses to operate legally. For example, a restaurant will need a liquor license, and a pawn shop will need a resellers license. The paperwork may prove a hassle, but its a necessary ordeal that will protect you from fines, lawsuits, and other legal hazards.

    New York does not issue a general business license, but many professions in the state require special licenses or certifications. The New York Department of State hosts an excellent portal dedicated to professional licensing, with information on the requirements for obtaining dozens of professional licenses in the state, and instructions on how to apply for them.

    Set Up An Accounting System

    How To Register A Small Business In New York

    Setting up an accounting system for your business is one of the most important things you can do for your company to ensure long-term success.

    There is just one problem youre not a numbers person.

    Just thinking about financial statements, debits and credits, and accounting software makes your head hurt.

    Staying on top of finances not only keeps the business on top of tax obligations, but financial statements can be used to track and monitor trends in the business and maximize profits.

    Fortunately, understanding the numbers doesnt mean getting a finance degree. Tracking a businesss financials can be done with pen and paper , spreadsheets, accounting software, or hiring a bookkeeper.

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    Register An Assumed Or Fictitious Business Name

    Many small businesses don’t simply operate under the names of their owners. Instead, they operate under a business name. In addition, some businesses, such as corporations and LLCs, may originally register with the state under one name , but later choose to operate under another name. Depending on where you’re doing business and how your business is structured, this alternative business name technically may be known as an assumed name, a fictitious name, a trade name, or a DBA . New York corporations, LLCs, and limited partnerships using an assumed name must file a form with the state. Other business entities that use an assumed nameâsuch as sole proprietorships and general partnershipsâmust file a form with the county clerk in each county where the entity conducts business.

    Example: Donna originally organized her car repair business as a New York corporation named Donna’s Great Garage, Inc. She now wants to operate the business under the name Southern Tier Foreign Auto Repair, Inc. Donna must file a Certificate of Assumed Name, along with the filing fee, with the DOS.

    Key To Nyc: Vaccination Requirements

      People 12 and older are required to show proof they have received at least one dose of a COVID-19 vaccine authorized for emergency use by the FDA or WHO for indoor dining, fitness, and entertainment. Staff at these locations are also required to be vaccinated. In December, COVID-19 vaccination proof requirements will be expanded to include younger children and to require full vaccination.

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    Who Should Get A Dba

    In basic terms, anyone operating a business under an alias will need at least a DBA to protect themselves legally. With that in mind, here are some other sensible reasons to look into getting a trade name:

    Getting a new business bank account using your fictitious name.

    Allowing a writer to better operate under their pen name.

    Letting an LLC do business using multiple names for different product lines or locations.

    Hold An Organizational Meeting

    New York LLC – How to Start an LLC in New York

    An organizational meeting is the first official meeting of the corporation after the business is legally formed with the state. At this meeting, bylaws are adopted, officers are appointed, and any other initial business is conducted. The first meeting minutes should also be recorded and added to your corporate record book.

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    Do You Run A Business In New York Here Are The Challenges And Opportunities In The State

    • New York businesses contend with high taxes and a complex regulatory landscape.
    • The proximity to New York City provides excellent access to capital and skilled labor.

    There are more than 2 million small businesses in New York state, which employ 4 million people. These small businesses make up 99.8% of all businesses within the state and employ more than half the state’s workforce. In 2018, New York’s unemployment rate was about 4.7%, slightly higher than the national average, but still healthy. The share of workers employed by small businesses underscores their importance to the state’s economy: small businesses created 113,528 net jobs throughout the state.

    In 2018, New York’s statewide GDP was $1.676 trillion, which ranked third in the nation. In 2018, the state’s GDP grew by 2.1%, slightly slower than national growth, which stood at 2.9%. The top five industries in New York are finance, insurance, real estate, rental and leasing professional and business services government and government enterprise educational services, healthcare and social assistance and information.

    How does this economic landscape translate to the fortunes of small businesses throughout the state? And what unique challenges do New York’s small business owners face? Business News Daily got in touch with some of the state’s entrepreneurs to find out.

    How Much Does It Cost To Start A New York Corporation

    The Certificate of Formation costs $125 to file. Filing by mail and need it expedited? Pay $150 extra for 2-hour processing and $25 for 24-hour processing.

    Hire us for a one-time fee of $350, including the state filing fees, a year of registered agent service, a business address and more. Or, pay just $38 out the door with our VIP monthly payment option.

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    For Llcs And Corporations

    Creating one of these two entities in New York follows similar steps, with a difference in the legal document that you file with the state government.

    First, you must designate a registered agent to handle process notices and other government correspondence on the businesss behalf. Anyone with a physical address in New York can be a registered agent, meaning that you can appoint yourself, however, hiring a professional is affordable and recommended.

    Next, run a search to verify that your chosen business name is available for use in the state. Then, you can file the legal document to create your business in the state. Those forming a corporation can skip past the final steps of forming an LLC.


    An LLC is formed in New York upon the filing of Articles of Organization. These can be filed online, or through the mail. In most states, filing the articles completes the process, however, forming an LLC necessitates two more steps in New York.

    Within 90 days of filing Articles of Organization, your LLC must adopt a written operating agreement that makes clear the roles and obligations of the LLCs members. However, you are not required to file the operating agreement with the state government.


    A corporation is created in New York through the filing of a Certificate of Incorporation. This can be done online or through the mail and the fee is $125 plus a tax that varies depending on the number of authorized shares your corporation plans to issue.

    Limited Liability Company Tax Id

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    Will your limited liability company hire employees? If so, you need to get a tax ID number. IRS-EIN-TAX-ID helps you get your tax ID number on the same day you apply, so you have one less requirement to worry about as you set up your business. Simply apply online and wait a few hours for your EIN number confirmation.

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    Register With The State

    And now, on to the state forms. Depending on your company structure, youll need one of the three sets of forms below. LPs and LLCs require extra forms due to New Yorks legal requirement to publicize their formation.

    • Business corporations need a Certificate of Incorporation. The cost is $125 plus other fees between $10 and $25, depending on your situation.

    Kick Off Your Marketing Plan

    Now that your paperwork and financials are in order, youre well on your way to starting a business in New York. The next step is spreading the word about your new business. Marketing your business may seem daunting, but in reality, your small business marketing plan can be an opportunity to flex your creativity. And at the beginning of your venture, you can keep your marketing strategies small: Simply focus on building and maintaining an online presence, and reaching out to your community.

    Building a professional-looking business website is pretty non-negotiable, and with website builders like Squarespace and Wix, its super simple to do. Hopefully you bought your domain name back in Step 2, but if you didnt, you can do so through your website builder.

    Your business website can essentially be as detailed or bare-bones as you want. But either way, make sure to include an About page so potential customers can put a face to your business, as well as links to your businesss social media platforms. If youre a service-based business, you can also integrate your appointment scheduling software to make it easy for clients to book a session with you.

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    Can You Operate A Business From Home

    You can start and run your small business from the comfort of your own home. Running a business from home allows you to profit without dealing with the high overhead typical of traditional business settings. You also avoid long commutes. Running a successful small business from home isnt always easy, however.

    Helping Nys Businesses Build Back

    Small Business Grant from New York State. Apply starting on June 10, 2021 (Updated: 06/10/2021)

    Were here to help New York States small businesses reimagine, rebuild and renew. Find out more about our Business Pandemic Recovery Initiative programsincluding $800 million in state funding for small businessesand about rental assistance for tenants. And find a statewide network of centers staffed by people who can walk you through how to apply. See below for details.

    If youre looking for residential rental assistance, please visit the New York State Office of Temporary and Disability Assistance for more information on the Emergency Rental Assistance Program .

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    How Do I Register A Business In Nys

    Form an Entity

    Visit the NYS Business Wizard to determine the requirements for your business and apply for the right license or permit. Sole proprietorships and general partnerships file in the county where theyre located. Business Corporations file a Certificate of Incorporation with the Department of State.

    How Can I Get A New York Phone Number For My Corporation

    Its a conundrum: you need a local number to display on your website and give to customers, but you dont want to make your personal number quite sopublic. We get it. And weve got you covered with Northwest Phone Service. We can provide you with a virtual phone number in any stateplus unlimited call forwarding and tons of easy-to-use features. You can try Phone Service free for 60 days when you hire us to form your corporation, and maintaining service is just $9 monthly after that. No contract required.

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    How To Register A Business In New York State

    Is starting a business in New York your American dream? Thats terrific, but get ready to jump through some hoops. New York businesses must be registered. Youll need forms, certificates, and licenses from multiple regulatory agencies.

    Complete Payroll is here to make your life easier. Below is a step-by-step guide, plus links to important forms youll need to register a new business in New York. Also, if you’re ready to set up payroll to get your employees paid,

    Select A Business Structure

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    To register your business in New York and with the IRS, youll first need to choose a business structure that best suits your tax and legal situation. The options are corporation, limited liability company , or sole proprietorship.

    Most small businesses begin as a limited liability company . This type of business entity gives the protection of your personal assets from the businesss liability while avoiding the double taxation of corporations.

    Corporations can be designated as S or C corps. In other states, an S corp is often the preferred corporate designation if a company is using the corporate structure. S corps, however, are not recognized in New York and are therefore subjected to an 8.85% general corporation tax. In contrast, an LLC structure is taxed a 4% unincorporated business tax in New York.

    You can file for your New York LLC online and choose to work with registered agent compliance and business formation service such as ZenBusiness to handle a lot of the work for you. Keep in mind that the overall cost to cover all your bases can run up to $2,200, and thats before any licenses or permits.

    The New York State Department of Taxation and Finance can offer more information about the taxes due for each corporate structure. New York Business Express has an online wizard to help you decide which legal structure could work best for you.

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    Conducting Business In Other Counties

    If you plan to conduct business in other counties, you must file your business name with the clerk of each of those counties. Opening the Business

    Once your business certificate is filed, you may conduct business within the county. However, there may be other municipalities and authorities you may wish to contact to ensure that you are complying with all federal, state, and local obligations. The County Clerk’s Office is not a licensing agency. You may visit other sites, including the Department of Consumer Affairs and New York State Department of Education for more information.

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    File Records For Your Form Of Business

    In addition to licenses and permits, some legal forms of business, such as corporations and limited liability companies , must file organizational documents. More specifically, corporations, LLCs, and certain other types of businesses must register and file with the Division of Corporations, State Records and Uniform Commercial Code of the New York Department of State . You can find detailed information on the DOC website.

    Get A Business Bank Account And Business Credit Card

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    You know the old saying, Dont mix business with pleasure? Turns out, it applies to your finances, too. The next step in starting a business in New York is to open a business bank account and credit card.

    Separating your business and personal finances is crucial for two key reasons: Itll protect your personal assets in the unlikely event that your business is sued, and itll make your bookkeeping much easier to organize. Opening a business bank account and signing up for a dedicated business credit card are the first two important steps in establishing this separation. Luckily, theyre both easy to do.

    If youre happy with the bank youre using for your personal finances, you may decide to open your business bank account with them, too. Keeping both sets of finances with the same institution is logistically easier, and as banks tend to reward loyalty, they may offer you incentives on your business bank account, like forgoing the monthly maintenance fee or allowing you to open your account online. Otherwise, take a look at our guide to the best business bank accounts for small businesses. Theyre all excellent options. Keep in mind that when youre starting out, you can get away with opening just a checking account for easy access to your cash. You can open a business savings account when you start growing.

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    Can I Start A Business For Free

    Anyone can start a money-making online businessanyone with a computer, that is. Best of all, unlike a brick-and-mortar business, you dont need a lot of startup capital. In fact, you can get many internet businesses up and running with no money at all because so many free services facilitate the possibility.

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