We've compiled for you here material commonly associated with incorporating or forming an LLC in New York. While we strive to maintain correct and current information, we cannot guarantee its accuracy and strongly recommend you verify all considerations and consult with a qualified professional before incorporating or forming an LLC.
Even though New York does not rank well when it comes to having a favorable tax climate for business, almost all of the largest companies maintain offices in New York. While they may have chosen what they consider a “friendlier” state as home state, major businesses do value having a presence in New York due to the significant advantages of proximity to New York City, often considered the financial capital of the world.
It makes sense for companies doing business primarily in New York to form their corporation or LLC there and after considering the pros and cons, a great many business owners do choose to incorporate or form their LLC in New York. Of course, in view of the complexity of the issues that should be considered, it is always wise to consult with an attorney and/or accountant familiar with the specifics of the business being formed.
New York corporation directors need not be residents of New York.
Costs & Taxes
If you are considering forming your corporation or LLC in New York but you will not operate there, your company must foreign qualify in each of the other states in which you will be doing business, and your company must have a registered agent in your state of formation as well as each of the states in which you foreign qualify.
IMPORTANT:MaxFilings always advises you to consult with a professional who is familiar with all current laws and regulations that are applicable in your jurisdiction. And always seek the advice of a qualified “accountant”, “tax advisor” or “financial planner” when addressing tax issues. They are not only very complex but they are also subject to interpretation.