| New York Limited Liability Company Registration Package |
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| Unless otherwise mentioned, the quotation of U.S. New York Limited Liability Company specifically refers that the Limited Liability Company (LLC) registration is in accordance with New York State Limited Liability Company Law. |
Our basic package fee for the registration of an LLC in the State of New York is USD1,600. This package fee covers our professional registration service, registered address and registered agent service in New York for one year, a standard operating agreement, and the payment of official registration fee to the New York Division of Corporations.
To register an LLC in New York State, you will need to prepare and provide the proposed business name of the company, registration capital (if any), each LLC member’s share of profits and losses (if a multi-member LLC), the identification (e.g. passport) and residence address proof (e.g. utility bill, bank statement, etc.) for each member, director, and manager (and secretary, if requested) of the LLC.
If the business name does not contain any restricted words, and the business activities to be carried out by your New York LLC is not specially regulated, the LLC registration timeframe is about 3 business days (not including mailing time). Rush filing service is available for a fee in New York State. An LLC could be registered within 24 hours with Rush Service.
In any case where your LLC is to engage in regulated business, including agriculture, alcoholic beverages, aviation, firearms, ammunition and explosives, fish and wildlife, commercial fisheries, maritime transportation, mining and drilling and etc, additional licence or permit may be required. Kaizen can help you apply for those licence. Our fee for this service will be quoted upon request.
In addition, if your New York LLC is to conduct business in other states, you will also need to register a foreign company from local government. Kaizen can help you apply for those licence. Our fee for this service will be quoted upon request
| 1. |
An LLC in New York Registration Services and Fees |
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Our fees for handling the registration of an LLC in New York is USD 1,600, including the following services:
| (1) |
LLC Registration |
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(a) Answer your questions regarding the registration and maintenance of an LLC in New York State;
(b) Perform name availability search;
(c) Pay registration filing fee to New York State Division of Corporations;
(d) Standard Operating Agreement;
(e) Minutes of first meeting of members;
(f) Compile minutes for opening a business bank account resolution, if any;
(g) Customize a corporate kit, including metal corporate seal, register of members, register of managers, and equity transfer ledger etc.
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| (2) |
Registered Address and Registered Agent for the first year |
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Kaizen will provide a registered address and a registered agent in New York State for one year in compliance with the requirement of Division of Corporations of New York State for the purpose of registration of company.
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Notes: |
| （1） |
Our fee quoted above does not cover courier charge; |
| （2） |
Our fee quoted above excludes the taxes. If tax invoice is needed, value-added tax at the prevailing rate may be charged and collected. | | |
| 2. |
Other Relevant Services |
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ITEM
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DESCRIPTION
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AMOUNT
(USD)
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1
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Expedited (Rush) Service (Note 1)
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200
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2
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Publication requirement in New York State (Note 2)
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At least 1500
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3
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EIN application (Note 3)
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300
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4
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ITIN application (Note 4)
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1000
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5
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Sales tax certificate of authority (Note 5)
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300
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6
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State and local business license application (Note 6)
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TBA
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7
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Federal business license application (Note 7)
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TBA
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8
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USA bank account introductory service (Note 8)
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500
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9
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Provide mailing address (Note 9)
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500
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10
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Authentication for formation documents (Note 10)
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TBA
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Note:
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| (1) |
If expedited service (also known as Rush Service) is requested, the State’s turnaround time will be reduced. That is, the company can be registered within 24 hours of filing of registration documents.
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| (2) |
Each new LLC registered in New York State must publish twice about the corporate formation on the local newspaper within 120 days after the registration. After the LLC registration, the LLC will be forwarded to the local county clerk and is in the process of getting the clerk’s designation for a daily and weekly newspaper around 6 weeks. Upon receipt of designation we will immediately handle the preparation and placement of the legal ad in the two assigned newspapers, after which the newspapers will begin publishing the legal notice in their next available issue. We will then contact the newspapers to obtain the dates of publication for this notice and subsequently email this information to you.
Once the publication is completed, you will receive the newspaper Affidavits of Publication, confirming full compliance with the NY State LLC publishing law. The Certificate of Publication, with the Affidavits of Publication and a filing fee, must be filed with the NY Department of State. The process involves multiple steps mandated by the NY State LLC law and is estimated to take around 3 months.
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| (3) |
Employer Identification Number (EIN), also known as Federal Employer Identification Number (FEIN), or Federal Tax Identification Number (FTIN), is a business identification number just like a Social Security Number (SSN) for your personal identification number. The EIN number allows you to communicate with the Internal Revenue Service (IRS) in the dealing of all the tax matters of your New York company. The EIN is also needed for bank account opening.
The EIN is issued by the Internal Revenue Service (IRS) upon application. The IRS normally takes around 3 weeks to process an application. Expedited service is not available. Kaizen will notify you through Email upon receipt of the EIN from the tax authority.
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| (4) |
If your New York LLC is to open a business bank account in U.S., or the responsible person of the LLC is required to file individual tax return in the U.S., then the responsible person must apply for an Individual Taxpayer Identification Number (ITIN) from Internal Revenue Service (IRS). The processing time is about 6 to 8 weeks, and it may take up to 11 weeks during tax season (Jan - April). Expedited service is not available. Kaizen will notify you through Email once received the ITIN from the tax authority.
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(5)
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If your New York company intends to engage in retail or wholesale, or offer certain taxable service and has an office/warehouse or sales representatives in New York State, then your LLC is required to obtain a Sales tax certificate of authority. Please note if your LLC’s annual taxable sales are over USD 300,000 or over 100 transactions in New York State per year, the LLC is also required to apply the Sales Tax Certificate of Authority even if it does not have a physical presence. The application process takes about 5-7 business days. Expedited service is not available. Kaizen will notify you through Email once received the Sales Tax Certificate of Authority from the tax authority.
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(6)
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There is no need to obtain state and local business license if the business of your New York LLC does not involve special industries and it will not hire employees or set up business office/warehouse at New York. Otherwise, the LLC may be required to obtain certain state business license or permit. Please reach out to us for more detailed about these local city/county business license.
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(7)
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A New York LLC is not required to apply for Federal Business License unless the business activities are regulated by the federal authority. The regulated business activities include agriculture, alcoholic beverages, aviation, firearms, ammunition and explosives, fish and wildlife, commercial fisheries, maritime transportation, mining and drilling, nuclear energy, radio and television broadcasting, transportation and logistics. Kaizen can help your New York LLC to apply for these federal licence and permit. Our fee for this service will be quoted upon request.
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(8)
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Kaizen can provide onsite assistance and help you to open a business bank account in New York for your New York LLC. Please notice that the responsible person (the director) of the LLC is required to be interviewed and sign related documents onsite under the witness of the banker. Kaizen is limited to providing introductory and assistance services and do not guarantee the result of the bank account opening as it is the sole discretion of the bank to determine whether to accept an application or not. Please also note that both the EIN and ITIN are required by the bank.
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(9)
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Kaizen can provide a New York address as your business mailing address. The mailing address can be used to receive letters from bank, government, and other related business letters for the LLC, then Kaizen will forward these letters to you through email (by default) or mail (if necessary). Actual delivery fee or postal is to be charged separately.
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(10)
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Kaizen provides the notary service for the formation documents, including authentication in Division of Corporations of New York and Chinese Consulate General. Our fee for handling the notarisation and apostille will be quoted upon request.
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| 3. |
Payment Time and Method |
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We currently accept Hong Kong Dollar check, cash or TT and credit card through PayPal only. If payment is settled through PayPal, extra 5% services fee will be charged. Upon receipt of your order, we will issue an invoice to you for your settlement. Because of the nature of services, we require full payment in advance. Also, once service is commenced, no service fee will be refunded except special cases.
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| 4. |
Fundamental Structure of an LLC in New York |
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Minimum requirements for an LLC in New York registration:
(1) At least one incorporator, can be a member or officer;
(2) At least one member. The member can be a legal entity or natural person, without nationality limitation;
(3) At least one director. The director must be a natural person;
(4) At least one officer (Chief Executive Officer, Chief Finance Officer, or Secretary). The officer must be a natural person;
(5) The director or officer can sign legal documents on behalf of the LLC and record minutes of meetings;
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| 5. |
Registration Procedures of an LLC in New York |
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The registration procedures for an LLC in New York are listed as follows:
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No.
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Description
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Time
(Business Days)
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1
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Kaizen was entrusted to handle the LLC registration in New York; you should fill out the order form, “due diligence document? and other documents (listed in part 6), then E-mail the whole package to Kaizen. Meanwhile, Kaizen service fees should be paid at this point；
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Client Schedule
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2
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Kaizen will check the name availability at New York State registration office;
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1
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3
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Kaizen will compile the required documents, including Article of Organization and standard operating agreement;
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1
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4
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Kaizen will send the documents mentioned in (3) to you to review and confirm the accuracy;
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1
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5
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Kaizen will submit the Articles of Organization to New York registration office and pay the registration filing fee. The officer will review the document, and mail to Kaizen the sealed Articles of Organization with filing date and filing number within 3 business days if approved;
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3
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6
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After the registration, Kaizen will customize the corporate kit, such as order the metal corporate seal, prepare register of directors, register of members, and share certificate, etc.;
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7
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7
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Kaizen will arrange to apply the EIN, if being engaged to do so;
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14-21
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8
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Kaizen will arrange the publication for the LLC in New York State, file the Certificate of Publication and the Affidavits of publication with the New York Department of State after completing the publication;
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3-4 months
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9
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Kaizen will undertake the Certificate of Incumbency and certified copy of registration document, if being engaged to do so;
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TBD
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10
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After all the above procedures are completed, Kaizen will deliver all the documents to you at the address designated.
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1
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Note:
(1) The number of days stated above are estimations and for reference only. In addition, they are estimated based on the assumption that no application for license or permit is required.
(2) For No.5, if the expedited service is requested, the registration will be processed within 24 hours with extra expedited service fees USD 200. The publishing period is not included.
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| 6. |
Documents Required to Register an LLC in New York |
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You should provide the following documents to Kaizen:
| (1) |
Names of the proposed company. Please provide 2 to 3 preferred names in priority order; |
| (2) |
Passport copy and residential address proof (utility bill, phone bill, or bank statement, etc for the most recent 3 months) in respect of each member, director, and officer (and secretary, if requested) of the LLC. If the member is a legal entity, please provide the entity’s registration document and registered address; |
| (3) |
Registered capital and each member’s share of profits and losses (if more than one member); |
| (4) |
The detailed description of the LLC’s main business activities, such as the services intend to offer or products intend to sell, and location of potential customers/suppliers; |
(5)
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Date of commencement of business;
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(6)
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Number of Employees, if any;
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(7)
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Duly completed “due diligence questionnaire?provided by Kaizen.
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The identification and address proof, mentioned in (2), should be certified or notarized by Kaizen, local notary at the place of the member and manager, lawyer, CPA, or bank manager. |
| 7. |
Documents for You After the Registration |
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After all the registration procedures, the following documents will be mailed to you for archives:
| (1) |
Articles of Organization sealed by New York State Division of Corporations; |
| (2) |
Standard Operating Agreement in New York; |
| (3) |
Corporate seal customized with the LLC’s name; |
| (4) |
The minutes book, which used to record member list, register of directors, and share transfer ledger, etc.; |
| (5) |
Minutes of first meeting of Board of Directors; |
| (6) |
10 pieces of blank share certificate; |
(7)
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EIN letter, if any;
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(8)
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Affidavits of Publication
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(9)
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Certificate of Publication
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(10)
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Certificate of Incumbency and certified copy of registration document, if any.
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The above documents are also available for pick up in any Kaizen offices.
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| 8. |
Annual Renewal |
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An LLC in New York State is required to file biennial statement every two years. Any changes in organizational structure during the two years are necessary to report to the New York State Division of Corporations. This is known as basic annual renewal. Kaizen will handle the basic annual renewal for your New York LLC for a fee USD900, including provision of registered office, registered agent, and biennial statement filing. Please note that this service fee does not include accounting, and income tax filing. We will send a renewal notice to you 2 months before the due date.
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9.
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Other Compliance Services
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An LLC is also required to operate in compliance with the New York State New York State Limited Liability Company Law. For example, keeping all the vouchers and receipts, filing income tax return, and file annual report, etc. Kaizen U.S. office is a professional CPA firm, offers complete compliance services and business support, such as bookkeeping, financial statement audit, filing tax return, making payroll, etc. please reach out and discuss with our professional consultants for details.
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If you wish to obtain more information or assistance, please visit the official website of Kaizen CPA Limited at www.kaizencpa.com or contact us through the following and talk to our professionals:
Email: info@kaizencpa.com
Tel: +852 2341 1444
Mobile : +852 5616 4140, +86 152 1943 4614
WhatsApp/ Line/ Wechat: +852 5616 4140
Skype: kaizencpa
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