Cost to maintain a New York LLC?

Asked almost 3 years ago - New York, NY

I may looking into forming an LLC in New York, but I am not familiar with what fees there are after incorporation. I am very familiar with delaware which has an annual franchise tax, is something similar in New York? what are all the maintenance fees/taxes associated with having an LLC in New York?

Attorney answers (1)

  1. Answered . Franchise tax in NY too for Corporations.
    LLC's requirements really depend on the type of business but generally these are the obligations:
    - annul filing fee which goes from USD25 to USD4,500 depending on your turnover
    - unincorporated business tax
    - sales and use tax at 8.875%. Registration with Dept. of taxation & finance is required. Also, monthly/quarterly filing of sales tax returns depending on your turnover
    - real and personal property tax, if applicable
    - excise tax, if applicable
    - registration of trade name (USD25 to USD100)
    Do you plan to employ workers? If so, requirements list gets longer....

    Attorney Advertising. The information given above is intended to provide general information only and not legal... more

Related Topics

Incorporating a small business

Incorporation is the act of forming a corporation, a separate legal entity whose rights and liabilities are distinct from its shareholders.

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An LLC (limited liability company) is a business entity that has elements of both a corporation and a partnership (or sole proprietorship).

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