If you plan on forming an LLC in New York, you should know what the costs of doing business are. To create an LLC in NYC, you need to file “Articles of Organization” with the New York Department of State, Division of Corporations. The associated filing fee for the 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 NYC 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/tradename, 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.
In sum, the costs of forming an LLC in NYC are as follows:
(a) Articles of Organization – $200;
(b) Certificate of Publication – $50; (plus newspaper fees)
(c) Biennial Statement – $9; and
(d) Certificate of Assumed Name – $25 (optional).