If you plan on forming an LLC in New York, you may find yourself googling, “how much does an LLC cost in NY?” or “how to form an LLC in NY?” You may also be wondering what the NY LLC publication requirement is. This FAQ discusses the various costs and documents associated with forming and maintaining a NY LLC.
To form an LLC in NY, you need to file “Articles of Organization” with the New York Department of State, Division of Corporations. The associated filing fee for the NY LLC Articles of Organization is $200.
New York also has a unique requirement for foreign AND domestic LLCs. A “Certificate of Publication” must be filed within 120 after filing the Articles of Organization. NYS will provide a Certificate of Formation after the LLC submits “proof of publication,” stating that it was “published” once a week, for six consecutive weeks, in two newspapers in the town/city of its formation. One paper must be daily and the other, weekly. The publication could cost anywhere between $150-$1,200, depending on the papers chosen. The associated filing fee is $50.
LLCs doing business in NY need to file a “Biennial Statement” with the State of New York every two years. The filing fee for the Biennial Statement is $9. If you fail to file the Biennial Statement and pay the associated fee, the LLC won’t be in good standing.
Some businesses choose to do business under a name other than the name on their Articles of Organization. If you want to do business under an assumed name/trade name, you must file a Certificate of Assumed Name with the NYS Department of State. The cost of this application is $25. Once submitted, you will be able to legally use the alternate name for marketing, finances, and other business purposes.
So, how much does it cost to start an LLC in NY?
- Articles of Organization – $200;
- Certificate of Publication – $50;
- Newspaper publication fees – TBD
- Biennial Statement – $9; and
- Certificate of Assumed Name – $25 (optional).
Similar to an NJ LLC, there may be other costs associated with forming an LLC in NY including the procurement of a registered agent service if you or your business are not located in NY. These costs can range from $50 – $200 depending on the company/agency you use.
Lastly, depending on your business/trade, you may need to obtain state or local licenses to perform certain services such as a home improvement contractor license.