If you already have an LLC in another state and want a New York LLC, then starting an LLC would be somewhat different. You must register as a foreign LLC. We have here a guide on how you can qualify and register for a foreign LLC in New York.
On this page, you’ll learn about the following:
- Forming an New York Foreign LLC
- Steps to Filing New York Foreign LLC Online
- After Forming New York Foreign LLC
Forming an New York Foreign LLC
A foreign LLC does not need to be a company from another country but a business formed under the laws of another state. To start a foreign LLC in New York, you need to register it with the New York Secretary of State.
Step 1: Choose New York Foreign LLC Name
Obtain a name reservation certificate and submit it with your foreign qualification requirements at the New York Secretary of State. Your LLC’s legal name outside of New York will be listed on the application, along with the name it will use in New York. Take note of the requirements for naming your LLC.
Step 2: Select New York Foreign LLC Registered Agent
You’ll need a registered agent to form a foreign LLC in New York and take note that a New York registered agent must have a local address. Here are three of the best LLC services on our list that will provide you with registered agents to ease your worries:
Step 3: File Registration of New York Foreign LLC
Fill out and submit a Foreign LLC Application for Registration form via email through the New York Secretary of State website or by mail to the New York Department of State, Division of Corporations, One Commerce Plaza, 99 Washington Avenue, Albany, NY 12231.
Include the following:
- LLC’s full legal name.
- A fictitious name or a DBA (only if your LLC’s legal name is not available); Attach a statement of adoption of the fictitious name signed by all LLC members.
- LLC’s principal office and mailing addresses.
- LLC formation state and date.
- Registered agent’s name and address in New York
- Date when your LLC will start operations in New York.
- Credit card information on the last page of the form for the $150 application fee.
The LLC cost in New York, even for foreign LLCs will differ between online filing and by mail.
Step 4: Determine How Your New York Foreign LLC is taxed
Foreign LLCs are also subjected to the New York Business Privilege Tax, and they must file LLC annual reports each year.
Note that forming a foreign LLC would be good for your business as you can legally operate in a different state thus reaching a larger market and opening more opportunities for higher profit.
Steps to Filing New York Foreign LLC Online
Time needed: 5 minutes.
To start your foreign business limited liability company in New York, you must apply for a Certificate of Authority with the New York Secretary of State office. The State offers only offline filing options for foreign LLCs through the mail. The cost of registration is $250. Once approved by the Secretary of State office, you will receive a certified copy of your Certificate of Authority. We have explained the aspects you need to cover when you apply for the New York Foreign LLC,
- Visit the Official Website of the New York Department of State
The page provides all the information about the Application for Authority for Foreign Limited Liability Companies offered by the State of New York. You can read all the Statutory information and additional information and guidelines on this page.
- Download The Application Form
On the page, scroll down to the heading ‘How to File’. The section contains the link to the Application for Authority. You can also download the Application Form PDF here. The State, however, does not mandate to follow the same application form. You may draft your own form that must contain all optional provisions under the law.
- Follow The Instructions
The application contains instructions mentioned in italics below every blank space. Read all the information carefully before you start filling in the application form.
- Certificate of Authority
The next will be filling up the Certificate of Authority. It is required before you form a Foreign LLC in New York. Download the form and fill it up.
- Attach Other Certificates
You must mandatorily attach the Certificate of Existence, Certificate of Good Standing, or Certificate of Status from the official who maintains your business LLC records in the State of Original jurisdiction where the business LLC was formed.
- Make the Payment
Issue a cheque or money order of $250 as the filing fee for Application of Authority payable to the ‘Department of State’.
- Submit the Form
Arrange all the documents and send them to the following address, Department of State, Division Of Corporations, State Records And Uniform Commercial Code, One Commerce Plaza 99 Washington Ave. Albany, NY 12231-0001.
After Forming New York Foreign LLC
Here are added things you need to accomplish after forming your New York Foreign LLC
- Obtain Business Licenses. Find the business licenses you’ll need using the Business License Search.
- File LLC annual reports and Business Privilege Tax.
- Pay State Taxes like sales tax; you’ll need an EIN for your LLC.
It is convenient plus easy to file for the foreign LLC if you are doing it online. The steps are very easy and that’s why it’s possible to go along with the steps and form the foreign LLC in New York.
How Much Does It Cost to Register a Foreign LLC in New York
To register as a foreign LLC in New York, you can file through mail or in-person by paying a filing fee of $100 to the Department of State Division of Corporations New York.
If you are thinking about starting a business in New York, it is important to know how much does it cost to register a foreign LLC. Depending on your particular state, you may have to pay local, state or federal fees to get your business registered. To determine the filing fee, you can compare each state’s requirements. You can also contact the government entity in your state.
First, you must choose a name for your LLC. The name must be distinguishable from other names in the state. In addition, it must be consistent with Section 204 of the NYS Limited Liability Company Law. It is also essential to use a registered agent. A registered agent can save you time and money. Moreover, it is important to keep your physical location in the state.
Next, you will need to file an Application for Authority with the Secretary of State. This form is available on the SOS website. As part of this process, you will have to provide your EIN. An EIN is essentially your company’s Social Security number. Most foreign LLCs hire a registered agent to do this for them.
After you have completed your application, you will need to pay a registration fee. The New York State Department of Taxation and Finance maintains a table of filing fees. These fees are based on the type of business you are forming, as well as the type of entity you are forming. They are broken down into a progressive fee structure. There is also a $9 biennial report fee for corporations. Additionally, you will need to pay a $25 DBA name certificate fee. For nonprofit corporations and cooperative associations, the fee is only $5.
After your business is registered, you will need to submit annual reports to the New York Department of State. The cost of filing an annual report can be as high as $4,500 based on the gross income of the owners in New York. However, some exceptions may apply to LLCs in Internet sales.
Your foreign LLC will need to appoint a New York registered agent. In addition to keeping your physical location in the state, a registered agent can assist you in handling your business affairs. Also, you will need to provide a mailing address in the state, as well as service of process.
You will also need to file a Certificate of Dissolution or Certificate of Termination if your foreign LLC is dissolving. A certificate of dissolution is a certified copy of a merger or dissolution. Similarly, a certificate of termination is a written declaration that your foreign LLC is no longer in operation. Lastly, you will need to update your registered agent’s information.
Once you have completed the steps for how much does it cost to register a Foreign LLC in New York, you will be ready to start your business. Getting your business registered in New York is relatively easy, and you will not need to do too many complicated tasks.
If your LLC is formed under the laws of another state, it is referred to as a foreign LLC in New York.
Businesses incorporated outside of the state where they operate must have “foreign qualifications” issued in the other states.
A domestic LLC is a company registered in New York as an LLC. The entity type that has a physical presence in another state is a foreign LLC.
Starting a foreign LLC in New York does not require a lot of documentation or tasks. However, it is always good to seek help from a professional when it comes to running your business. Get a professional registered agent and form your foreign LLC anywhere without a hassle.