1. Choose an LLC name and conduct a name clearance search. The New York Department of State keeps all LLC names on file in a database that is publicly searchable. Certain naming restrictions apply and new LLC names must be distinct from those already in existence.
2. Draft your Articles of Organization. This is the main formation document for an LLC and includes information such as the LLC’s legal name, address, county, registered agent, etc. This document must be filed with New York Department of State in order to set up an LLC.
3. Publish your LLC. LLCs in New York are subject to the New York LLC Publication Requirement, which states that new LLCs must publish legal notices for six consecutive weeks in two newspapers designated by their County Clerk. The notices must contain specific information about the new LLC, which is reflected in subsequently issued affidavits of publication that must be filed with the NYS Dept. of State along with a Certificate of Publication, within 120 days of the date that the LLC is formed.
5. Draft an Operating Agreement. This is an internal company document outlines ownership interests, procedures for adding new members to the LLC, allocation of profits and losses, and other important procedures for the members.
6. Apply for an IRS EIN Number, open a bank account, and apply for any necessary local business permits.
Need help with setting up an LLC? You’ve come to right place! Email us to schedule a free phone consultation and we’d be happy to discuss our flat fee LLC formation and publication services.