Starting a business is an exciting and transformative journey, especially for young entrepreneurs eager to turn their ideas into reality. One of the first (and most important) steps in launching your business is registering it with the appropriate authorities. If you're planning to start your business in New York, there are a few key things you need to know to ensure the process goes smoothly and you meet all the legal requirements.  These steps are easier when you have a legal partner on your side. Even the most straight forward task can feel nerve wracking if you've never done it before.  Schedule a discovery call with us today.  

1. Choosing the Right Business Structure

The first decision you'll need to make when registering your business is selecting the legal structure. If you're unsure about the best business structure for your startup, check out my earlier post on how to choose the right business entity for your New York business.

2. Registering Your Business Name

If you plan to do business under a name that's different from your legal business name, you will need to file a "Doing Business As" (DBA) name with New York's Department of State.

●     To register a DBA, visit the New York Department of State's Division of Corporations website, and check for name availability. You can search for existing business names to ensure no one else is using the name you want.

●     Once you've confirmed the name is available, you'll need to file the appropriate forms and pay a filing fee. The process can usually be done online or by mail.

3. Registering with the New York Department of State

Once you've selected a business structure and name, you'll need to officially register your business with the New York Department of State.

●     For LLCs: You'll need to file Articles of Organization with the Department of State and pay the filing fee. The form can be submitted online or via mail.

●     For Corporations: You'll need to file a Certificate of Incorporation, which includes details about the corporation's structure, including its name, purpose, and the address of its office.

●     For Partnerships: Depending on the type of partnership, you may need to file a Certificate of Limited Partnership or another form with the state.

The registration process typically takes a few weeks, but you can expedite it for an additional fee if you need quicker approval.

4. Get Your Federal Employer Identification Number (EIN)

Once your business is registered in New York, you'll need to obtain a Federal Employer Identification Number (EIN) from the IRS. This number is essentially your business's Social Security number and is required for tax purposes, opening a business bank account, and hiring employees.

You can apply for an EIN online through the IRS website, and the process is free. It's a quick and easy step, but it's important to have it in place before proceeding with other business-related tasks.

5. Registering for State Taxes

New York requires businesses to register for state taxes with the New York State Department of Taxation and Finance. Depending on your business type and operations, you may need to register for:

●     Sales Tax: If you're selling taxable goods or services, you'll need to register for sales tax.

●     Employee Withholding Tax: If you have employees, you'll need to register for withholding tax and provide workers with the necessary forms.

●     Unemployment Insurance Tax: If you have employees, you'll also need to register for unemployment insurance tax.

You can register for these taxes through the New York State Department of Taxation and Finance's online portal.

This is information is not meant to provide legal advise nor does it form an attorney client relationship.  If you would like more information, please schedule a discovery call with a member of our team who is standing by to help take this exciting first step.