What is the state filing fee to form an LLC in New York?

The one-time state filing fee to form an LLC in New York is $205.

Are there any annual fees for a New York LLC?

Yes, LLCs in New York are required to file an annual report with a fee of $9.

How long does it take to get an LLC approved in New York?

The official processing time for an LLC in New York typically ranges from 1 business day.

Can I form an anonymous LLC in New York?

No, you cannot form an anonymous LLC in New York.

What are the main advantages of forming an LLC in New York?

The main advantages of forming an LLC in New York include limited liability protection, a flexible management structure (either member-managed or manager-managed), and pass-through taxation (unless taxed as a corporation). Additionally, you can choose an effective date for the LLC up to 60 days in the future.

What are the potential disadvantages of an LLC in New York?

Potential disadvantages of an LLC in New York include the New York publication requirement, which is both expensive and time-consuming. Additionally, there is a requirement to file a Biennial Statement, and LLCs must pay an annual filing fee based on gross income to the Department of Taxation.

New York LLC: Key Data, Fees & Features

Your complete overview of $New York LLC costs, pros & cons, and key regulations. Make an informed decision with our up-to-date data.

State Filing Fee

$205

Processing Time

1-1 days

Annual Report Fee

Anonymous LLC

Publication

Yes

Advantages

Limited liability protection
Flexible management structure (member-managed or manager-managed)
Pass-through taxation (unless taxed as a corporation)
Can choose an effective date for the LLC up to 60 days in the future

Disadvantages

New York publication requirement (expensive and time-consuming)
Requirement to file a Biennial Statement
LLCs must pay an annual filing fee based on gross income to the Department of Taxation

Franchise Tax & State Requirements

Biennial statement filed every two years.

LLCs must pay an annual filing fee to the Department of Taxation, which is based on the LLC’s gross income. The fee is $25 for LLCs with a gross income of less than $100,000 and increases from there.

Publication Requirement: This state requires new LLCs to publish a notice of their formation in a local newspaper.