With our 5-step process, forming a company in New York is simple. A company may be formed by submitting formation paperwork with your state and forming a board of directors.
We’ll teach you how to form your own company in New York.
It is simple to establish a corporation in New York.
In New York, you may form a company by submitting the Certificate of Incorporation, drafting corporate bylaws, and naming your first director (s).
To get started, follow the steps in our How to Start a Corporation in New York article below:
Step 1: Give Your New York Corporation a Name
Step 2: Select a Registered Agent.
Step 3: Select Your First Directors
Step 4: Submit your Certificate of Incorporation.
Step 5: Obtain an EIN
Step 1: Give Your New York Corporation a Name
The first step in forming a company is to choose a business name. You must choose a distinct name that conforms with New York corporate naming regulations.
1. New York naming conventions:
The words “corporation,” “incorporated,” “limited,” or an acronym of one of these keywords must appear in your name.
Your name must be distinct from any other businesses in your state. This lists reserved names in New York.
To incorporate some restricted or forbidden terms, you must get clearance and/or satisfy specific restrictions.
Your company’s name cannot include terms that may be confused with a government organisation (FBI, Treasury, State Department, etc.).
Your name cannot include any vulgar or obscene term, phrase, or abbreviation, nor may it mock or disparage any person, group, belief, company, or government organisation.
2. Is my business name accessible in New York?
Your New York company name must be distinct and distinct from other New York business names. Check the Corporation and Company Entity Database of the New York Department of State to see whether your selected business name is available.
Visit our How to Name a Business guide and pick New York from the drop-down box for further information on New York corporation name searches.
3. Is the URL accessible?
Before forming your New York company, check to see whether an appropriate URL for your selected business name is accessible. Even if you don’t intend to create a company website right immediately, we recommend purchasing a web domain right away to avoid other companies from obtaining it.
Step 2: Select a Registered Agent in New York.
In New York, the Secretary of State automatically serves as the registered agent for all New York companies. You may, however, pick someone other than the Secretary of State to serve as the registered agent for your New York company.
Even if you employ a registered agent service, the Secretary of State will still be the primary point of contact for the state and anybody who may serve legal action on your business.
The Secretary of State will send the following to the primary address of your company or the address of your chosen registered agent:
All formation paperwork
Any process information service
Taxation and reporting documentation
Step 3: Determine the Initial Directors and Share Structure
Before you submit the Certificate of Incorporation, you must choose your first director(s) and decide on your share structure.
The First Directors
At least one director must be appointed to monitor your New York company until the first shareholder meeting.
A corporate director is in charge of operational bylaw adoption, modification, and repeal, as well as the election, monitoring, and removal of officers.
Following the formation of the company, the incorporator(s) should convene an organisational meeting. The incorporator(s) will elect the board of directors at this inaugural meeting.
Structure and classes should be shared.
A share of stock is a corporation’s unit of ownership. Each share of stock reflects a proportion of the company’s ownership. If a business issues one share of stock, the shareholder (stock owner) owns 100% of the corporation.
Shares may be divided into classes. Each class, known as a share class, has unique rights and advantages. There may be several classes, and each class can have an unlimited number of shares.
Step 4: Submit the Certificate of Incorporation to the State of New York.
To form a company in New York, you must submit Form DOS 1239-f: Certificate of Incorporation. The New York Certificate of Incorporation is the formal document that establishes your New York company. You may submit it with the New York Department of State online, by mail, fax, or in person. The price for filing is $125.
This paper will address the fundamentals of your company, such as:
Name of the corporation and the county in which its main office will be located
Registered office location
Name(s) and address of incorporator(s) (es)
The New York Department of State’s Certificate of Incorporation form only permits 200 common shares with no par value. If your company requires more than 200 common shares or a multiple share class structure, you must write your own Certificate of Incorporation.
Strategy for Distribution
The New York Department of State’s Certificate of Incorporation form only permits 200 common shares with no par value. If your company requires more than 200 common shares or a multiple share class structure, you must write your own Certificate of Incorporation.
What exactly is a Share Class?
A share class is a subset of shares that have different rights and benefits than other shares in the same business.
We propose that you begin with a large number of authorised shares. Many lawyers advocate for a million dollars. Starting with a large number allows you to issue shares as required without incurring legal expenses to enhance your original permitted share size.
Statement of the Incorporator
The incorporator(s) shall sign and preserve an Incorporator’s Statement with the full names and addresses of all initial directors in the corporate records book. The first director(s) named in this agreement will serve until the board of directors is chosen at the first shareholder meeting.
Step 5 Get an EIN for Your New York Corporation
What exactly is an EIN? The federal government uses an Employer Identification Number (EIN) or Federal Tax Identification Number (FTIN) to identify a company organisation. It is effectively the company’s social security number.
Why do I need an EIN? An EIN is necessary for the following activities:
To establish a commercial bank account for the firm
In terms of federal and state taxation
To recruit workers for the firm
How can I get an EIN? After founding the firm, the business owner obtains an EIN from the IRS (free of charge). This may be done online or in the mail.