First you should “Determine Whether Your New York Business has Employees or Independent Contractors” by reading that post or consulting with a corporate attorney. If your New York business hires employees, then the following would apply. Workers’ Compensation. The New York State Workers’ Compensation Law (“NYWCL”) requires qualifying businesses must obtain workers’ compensation insurance before…
How Do I Form a Limited Liability Company in New York?
Organizers form an LLC in New York by filing the Articles of Organization, pursuant to Section 203 of the New York Limited Liability Company Law, with the Department of State. Organizers prepare, sign and file the Articles of Organization that creates the LLC. Any person or business entity may be an organizer (it does not…
What is a New York Professional Service Limited Liability Company (PLLC)?
What is the difference between a NY PLLC vs. an LLC? One or more professionals may form, or cause to be formed, a professional service limited liability company (PLLC) in New York for profit for the purpose of rendering the professional service or services that the professionals are authorized to practice. A PLLC is formed…
Are There Any Special Responsibilities or Formalities Associated With Forming a New York Limited Liability Company?
According to Section 417 of the New York Limited Liability Company Law, the members of a New York LLC are required to adopt a written operating agreement. The operating agreement may be entered into before, at the time of, or within 90 days after the filing of the Articles of Organization. The operating agreement is…
How is a New York Limited Liability Company (LLC) Taxed?
The Internal Revenue Code (IRC) allows an LLC to elect its tax status for income tax purposes. You should consult your financial or tax adviser about these “check-the-box” regulations and any changes. For income tax purposes, New York State law follows federal law. Additionally, New York state law (and certain other states’ laws) imposes a…
How Do I Convert a Partnership, LLC or Other Business Entity into a Corporation?
(You may also want to read our related post, “How Do I Convert a Partnership, Corporation or Other Entity into an LLC?“) The New York Limited Liability Company Laws and the Delaware General Corporation Laws have provisions to easily convert an existing limited liability company, and with respect to Delaware, general partnership, limited partnership, other…
Where can I Find Links to New York Business Laws?
Look here to find links to the New York Limited Liability Company Law, the New York Business Corporation Law, the New York Partnership Act, and the New York General Obligations Law. […]
How Do I Convert a Partnership, Corporation or Other Entity into an LLC?
(You may also want to read our related post, “How Do I Convert a Partnership, LLC or Other Business Entity into a Corporation?“) The New York Limited Liability Company Laws and the Delaware Limited Liability Act have provisions to easily convert an existing general partnership or limited partnership (and with respect to Delaware, “other entities”…
Forming or Buying a Small Business in New York? Links To Start and Grow Your Small Business.
Is the name that you have in mind for your startup company available to use? Need to find out whether shares of stock or personal assets of a person or company have liens filed against it? Need to find out if tax warrants have been filed in New York? Need to know about the various taxes applicable to New York businesses and […]
Links to New York State and the City of New York Laws
Here are a few links to the websites maintained by the New York State and the City of New York legislatures. New York State Legislature – Laws of New York, Bills, Resolutions, Bill Text, Status, Summaries, Sponsor Memos, Floor Votes. NY Department of State-Division of Administrative Rules – New York Codes, Rules and Regulations (NYCRR)….
