New York Business Formation
Choosing the right business entity (and forming it correctly) is essential for liability and tax purposes.
We make it easy for you.
New York requires all businesses operating under a business name to register as a legal entity. But what legal form should you choose? An LLC? A Corporation? And what is an S-Corp. anyway? (Hint: it has to do with how your business is taxed.) We see you, we’ve been there, and we’ve got you.
Choosing the right legal entity for your business is important for tax purposes. It is also essential for separating your business liability from your personal liability. We work with you to determine which business structure makes the most sense based on your specific needs and set up the business for you.
We’ll handle all initial filings, operating agreements or bylaws, and any other initial documents you need on a flat fee, all inclusive basis.
Questions?
Like what you’re reading, but not sure what you need or where to start?
We offer a FREE 20-minute initial discovery call for you to see what we’re about, and for us to determine if we are a good fit for your needs.
Frequently Asked Questions
Why should I form a legal business entity?
Forming a legal business entity is important for a number of reasons:
Protection of your personal assets. When you start a business, one of your first considerations should be “how can I protect my personal assets if something goes wrong in my business?” If you do it right, forming a legal business entity shields your personal assets from liability for things that happen in your business. Forming a legal business entity gives you peace of mind about the personal side of things so you can focus on growing your business.
Potential tax benefits. Depending on how you structure your company, you may receive tax benefits. We also advise our clients to keep business income and expenses separate from personal income and expenses to ensure a smoother ride at tax time.
Credibility for your business. When you form a business entity, you put the public on notice that you are invested in your company. Being able to say that your company is an LLC or corporation gives your business an instant credibility boost.
Fortifies relationships among owners. Forming a company requires owners to address critical issues like ownership, decision-making, and other responsibilities because these issues are usually addressed in the initial formation documents. It can be incredibly beneficial to the company’s success when these business setup and structure issues are addressed from the outset.
What should I name my business?
There are practical as well as legal considerations to keep in mind when choosing the right name for your business. How will you market your business? If you sell products, what are your distribution channels? Does the state where your business is located have naming guidelines? Are there competitors with similar names that you need to consider?
Can’t I just use LegalZoom?
You can, but if you want to set up your business the right way the first time, we don’t recommend it. LegalZoom and other online filing services cannot and do not provide legal advice. So you risk making the wrong choices when you create your company through them.
We frequently hear from clients who have to redo business formation work they hired an online service to do. We don’t want this for you. (Maybe take a peek at LegalZoom’s reviews before you make a decision.)
Think about it this way: investing in setting up your business the right way is an investment in your business’s future success.
PS LegalZoom is good for some things, like when you need a quick answer to a question and don’t need legal support.
