LLC Legal Packages

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Commonly Asked Questions about LLC Legal Packages

Does New York require an annual report for LLC?

This will usually come in the form of an annual report. New York is one of the few states that does not have an annual requirement for a business update. Instead, LLCs are required by law to file a biennial report (every two years) for the steep filing cost of $9.

What happens if you dont file a biennial statement in NY?

NY Biennial Statement FAQs Yes. Its required to keep your business in good standing. If you dont, your businesss status will be changed to past due. Its not a good look.

What is an example of an LLC legal structure?

Although small businesses can be LLCs, some large businesses choose this legal structure. The structure is typical among accounting, tax, and law firms, but other types of companies also file as LLCs. One example of an LLC is Anheuser-Busch, one of the leaders in the U.S. beer industry.

Do I have to renew my LLC every year in NY?

Domestic and foreign limited liability companies (LLCs) are required by Section 301(e) of the Limited Liability Company Law to file a Biennial Statement every two years with the New York Department of State setting forth the address to which the New York Secretary of State shall mail a copy of any process accepted on

How long does it take to get an LLC in NY?

Mail filings: In total, mail filing approvals for New York LLCs take 8 1/2 months. This accounts for the 8 month processing time, plus the time your documents are in the mail. Online filings: Online filings for New York LLCs are approved immediately if you file your documents during business hours.

Do you have to pay for an LLC every year in NY?

Ongoing LLC Costs in New York Biennial report: Every two years, LLCs must file a report and pay a $9 fee. Franchise tax: This annual tax is a minimum of $25. Business licenses: Costs vary based on location and business activities.

Do LLCs expire in NY?

New York doesnt administratively dissolve LLCs. Even if you stop doing business in New York, your LLC will remain active and in existence until you take steps to dissolve it. If you voluntarily dissolved your LLC but want to get it back into business, youll have to start over and form a new New York LLC.

How much does an LLC cost in NY?

The fee for filing the Articles of Organization is $200. The fee may be paid by cash, check, money order, MasterCard, Visa or American Express. Checks and money orders should be made payable to the Department of State. Do not send cash through the mail.