How to Start a New Business in New York City? If you're planning to register a new business in New York City, there are some criteria that you're going to have to meet before you're up and running.
--- What's required to start a business?
The process to register a new business is a lengthy one. There must first be a legal structure that is established for your business. Who owns the business and is legally responsible for all of its inner workings have to be decided before you do anything else. Your business must then be registered with the appropriate Count Clerk, whether it's an LLC, a corporation or a limited partnership. An EIN (Employer Identification Number) must then be obtained for federal tax purposes. Once you've decided on the kind of business you're going to operate as, you need to find and plan a space in an area that is zoned for your kind of business. Work with professionals while your space is being built to ensure that your business is up to standard on all building and fire codes. Once completed, you should ensure that your building receives a Certificate of Occupancy or any acceptable alternative.
Depending on your business, you should ensure that both you and your employees are all licensed to work in your chosen field.
--- What Types of Businesses are there in New York State?
There are many types of businesses that are licensed to operate in New York, and each of them has different requirements before they can operate. These are business corporations, not-for-profit organizations; limited liability companies (LLCs), general partnerships, limited partnerships and sole
proprietorships. These types of businesses have different responsibilities and different methods of registration that are required. Typically, the two kinds of registered forms are the Certificate of Incorporation and the Assumed Name Certificate.
--- How do you register your business? Is there a form and a fee?
To register a new business, there must be the filing of a Business Certificate or a Certificate of Assumed Name, depending on the types of businesses in operation. The cost for filing a Business Certificate is depending on the county the business is operating in, but can range from $100 to $120. In the filing of a Certificate of Assumed Name, the filing fee is $25, as well as an additional county-specific fee: $100 for any county, and $25 for any additional county.
Once the filing process is complete, you will receive a filing receipt. It is recommended that you apply for extra filing receipts as they are needed for other uses, such as opening a business account with any bank. Extra filing receipts can be requested for a fee of $10 per copy.
Having to register a new business can be stressful, but by following these careful steps, your business can be up and running in no time.
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