Limited Liability CompanyUnited 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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An LLC is an unincorporated business organization of one or more persons who have limited liability for the contractual obligations and other liabilities of the business.
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An LLC is an unincorporated business organization of one or more persons who have limited liability for the contractual obligations and other liabilities of the business.
The registry’s and the law’s own pages do not mention it.
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Specifically, a domestic LLC with at least two members is classified as a partnership for federal income tax purposes unless it files Form 8832 and affirmatively elects to be treated as a corporation.
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
Not in our records A notary, A resident director, Paying up the capital: none of these is in our records for the Limited Liability Company.
Own it
Who may own and run it
- Directors
- Does not apply
- Shareholders
- Does not apply
- Members
- At least 1 · one person may form it alone
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An LLC is an unincorporated business organization of one or more persons who have limited liability for the contractual obligations and other liabilities of the business.
- A local company secretary
- Does not apply
- A local registered agent
- Not required
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No domestic or foreign limited liability company may be formed or authorized to do business in this state under this chapter unless its articles of organization or application for authority designates the secretary of state as such agent.
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
- Not stated
The registry’s and the law’s own pages do not mention it.
- 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.
- Publish the articles or a notice in two newspapers for six consecutive weeks, then file th
- 120 days after incorporation
With New York Department of State, Division of Corporations
LLC Law s.206; theatrical production companies are exempt.
What is public
Not in our records What the register shows the public is not in our records for the Limited Liability Company.
Tax
Tax on profit
How this company type is taxed, which can differ from its place’s headline rate.
Owners choose+4 regimes
A domestic LLC with two or more members is a partnership for federal tax unless it elects corporation status on Form 8832; a one-member LLC is disregarded unless it elects. New York follows the federal classification: partnership treatment files a partnership return, corporate treatment pays Article 9-A franchise tax (6.5% or 7.25% business income base).
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Specifically, a domestic LLC with at least two members is classified as a partnership for federal income tax purposes unless it files Form 8832 and affirmatively elects to be treated as a corporation.
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
- Dissolution by filing Articles of Dissolution with the Department of State under Limited Liability Company Law section 705.
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A domestic LLC should file Articles of Dissolution pursuant to Section 705 of the Limited Liability Company 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
- Limited Liability Company
- ISO 20275 code
- SDX0Secondary GLEIF, Entity Legal Forms code list