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....
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