Business CorporationUnited States · New York
What it takes to form, own and run a private limited company in United States · New York, and how its profit is taxed. Each figure links to the page it was read from.
This company type
At a glance
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Principal features are perpetual duration, limited liability and easy transferability of interests.
The registry’s and the law’s own pages do not mention it.
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The board of directors shall consist of one or more members.
The registry’s and the law’s own pages do not mention it.
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The completed Certificate of Incorporation, together with the statutory filing fee of $125, should be forwarded to:
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General business taxpayers with a business income base of more than $5,000,000 0.0725 All other general business taxpayers 0.065
Form it
Who registers it
- Registry
- Formed without visiting
- Not stated
The registry’s and the law’s own pages do not mention it.
- Formed online
- Yes
What it takes to form
- A notary
- Not stated
The registry’s and the law’s own pages do not mention it.
- A resident director
- Not required
- Paying up the capital
- Not in our records
Own it
Who may own and run it
- Directors
- At least 1 · none need live there
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The board of directors shall consist of one or more members.
- Shareholders
- Not stated
The registry’s and the law’s own pages do not mention it.
- Members
- Does not apply
- A local company secretary
- Not required
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The board may elect or appoint a president, one or more vice-presidents, a secretary and a treasurer, and such other officers as it may determine
- A local registered agent
- Not required
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(8) If the corporation is to have a registered agent, his name and address within this state and a statement that the registered agent is to be the agent of the corporation upon whom process against it may be served.
Each year, at the registry
- Annual registry fee
- USD 9 (about €7.87)
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The fee for filing a Biennial Statement for a business corporation or LLC is $9.
- Accounts on the public record
- No
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Please note by-laws and corporate books and records are not filed with the Department of State or any other state agency.
- Audit for a small company
- Not stated
The registry’s and the law’s own pages do not mention it.
- Audit
- Not in our records
Important dates
When each obligation falls due, as the authority states it.
Not in our records No dates for the Business Corporation are in our records.
What is public
- Shareholders
- Not recorded
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Please note by-laws and corporate books and records are not filed with the Department of State or any other state agency.
Tax
Tax on profit
How this company type is taxed, which can differ from its place’s headline rate.
Varies · 6.5–7.25%+4 regimes
A C corporation pays federal income tax at 21% of taxable income and New York Article 9-A franchise tax on the highest of business income (6.5%, or 7.25% where the business income base exceeds $5,000,000), business capital or a fixed dollar minimum.
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General business taxpayers with a business income base of more than $5,000,000 0.0725 All other general business taxpayers 0.065
Special regimes that may apply
- Deduction for foreign-source portion of dividends received from specified 10-percent owned foreign corporations holding · 100% exempt
Domestic corporations that are United States shareholders of a specified 10-percent owned foreign corporation, on dividends received from it 26 U.S.C. § 245A(a) - Deduction for foreign-derived intangible income and global intangible low-taxed income other · 37.5%
Domestic corporations with foreign-derived intangible income, and with GILTI included under section 951A 26 U.S.C. § 250(a)(1) - Alternative tax on qualifying shipping activities tonnage
Electing corporations engaged in qualifying shipping activities 26 U.S.C. § 1352 - Qualified opportunity zones free zone
Taxpayers with eligible gains who invest them in a Qualified Opportunity Fund holding property in a designated zone 26 U.S.C. § 1400Z-1 (designation) and § 1400Z-2 (deferral and exclusion), enacted by the Tax Cuts and Jobs Act of 2017, Public Law 115-97
Whether a company qualifies depends on its activity and conditions set in each statute.
- CFC rules in United States
- Not in our records
Close it
Closing it
The other end, which most guides leave out.
- Route
- Voluntary dissolution by filing a Certificate of Dissolution with the Department of State under Business Corporation Law section 1003.
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A domestic business corporation may be voluntarily dissolved by filing a Certificate of Dissolution pursuant to Section 1003 of the Business Corporation Law.
- Statutory fee
- USD 60 (about €52)
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Dissolution $60
Every business in United States · New York
Sales and consumption tax
- The tax
- Sales tax (state and local)
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you can elect to deduct state and local general sales taxes
- Standard rate
- Set by the states or provinces
There is no national VAT or sales tax; rates are set by each state and locality.
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you can elect to deduct state and local general sales taxes
- Registration threshold
- Not in our records
- A foreign company
- See the note
Sales tax is administered by state and local authorities, not the federal government, so there is no national registration rule to record.
- Tax authority
- Internal Revenue Service (IRS) at federal level; sales tax is administered by state and local authorities
Portals and registers
- Business registerNone — state-level business registries; no single national registry
- Tax authorityInternal Revenue Service (IRS)
- Tax treatiesUS Department of the Treasury - Tax Treaties
Payment and banking services
6 services name United States on their own list: Paysera, Airwallex, Stripe, Revolut, Brex, Mercury. Each provider, and what a listing means.
Reference
Its name and code
- Kind
- Private limited companyDerived our grouping, the same words in every country
- Name in law
- Business Corporation
- ISO 20275 code
- PJ10Secondary GLEIF, Entity Legal Forms code list