Bylaws typically include such information as the number of officers and directors and how they are chosen, a description of any corporate committees, how meetings of directors and shareholders are held and what sort of shares are authorized. Bylaws are not required at the time of incorporation, but after a corporation has been established, the incorporators must meet to adopt bylaws. Bylaws are kept at the corporation's principal place of business and are not filed with the Department of State. Costs of Incorporating in New York The New York Department of State requires a fee when filing articles of incorporation or reserving a corporation name. Corporations are also required to pay state and federal income taxes. Ready to start a corporation in New York? LegalZoom provides New York corporate formation and filing services, including providing a registered agent in New York.
Rules and Regulations of the Division of Corporations - Legal explanations of rules and regulations regarding corporations in the State of New York. Legal Memoranda - The legal memoranda for Doing Business in New York and Formation of Business Entities in the State of New York. State Records - If you are looking for information regarding trade marks, service marks and apostille or Certificate of Authentification, use the State Records tab on the left nav of the Division of Corporations page. e-File Your Uniform Commercial Code Financing Statements and Amendments - This service will allow the electronic filing of Uniform Commercial Code (UCC) Financing Statement and Amendments for the State of New York. UCC Forms and Fee Schedule - List of all New York UCC filing fees. Filing Guide (Under Rev. Art. 9) - General guidelines regarding filings under Article 9 of the Uniform Commercial Code. UCC Frequently Asked Questions - Answers to frequently asked questions regarding the Uniform Commercial Code in the State of New York.
New York is one of the great financial capitals of the world, while the state economy is also enjoying thriving agriculture, hi-tech, and communications segments. The tourist appeal of New York City combined with the lifestyle of New Yorkers attracts many entrepreneurs annually, while the business advantages to be gained by incorporating in the state can be considerable. Benefits of incorporating in New York: The main advantages to incorporating in New York are broadly similar to those of other US states. A major benefit for many overseas entrepreneurs is that establishing yourself as a bona fide New York corporation opens up the possibility of getting a US-based bank account. This can improve the running of your business in many ways - for example, the Amazon Partner Program requires all partners to have such an account before accepting them. Becoming incorporated will also add credibility and stability to your company's reputation - consumers are more likely to trust you with their purchases, while suppliers and distributors may be more flexible with their terms.
S Corps are separate entities that survive the death or transfer of stock of the owners and/or major shareholders. DBAs end upon closure of the company or the death of the owner. Ongoing formalities Depending on the state of incorporation, an LLC may be required to file an annual report and/or pay franchise fees. After formation, C Corps have many ongoing formalities such as writing bylaws, selecting directors, holding initial and annual shareholder meetings, and issuing stock. After formation, S Corps have many ongoing formalities such as writing bylaws, selecting directors, holding initial and annual shareholder meetings, and issuing stock. There are no ongoing corporate formalities. Ability to raise capital LLCs are not allowed to sell stock but may be able to raise capital via bank loans, from its members and various other avenues. Any equity to sales to third parties needs to be done in compliance with SEC regulations. C Corps may issue many types of stocks, which may be sold to an unlimited number of shareholders.