November 07, Print Email To many, starting your own business is the American dream.
Contact the Division New York recognizes many business forms including corporations, limited liability companies, limited partnerships, sole proprietorships and general partnerships. Each has its own advantages and disadvantages. For any particular venture, personal and business circumstances will dictate the business form of choice.
The Department of State cannot offer advice about the choice of business form and strongly recommends consulting with legal and financial advisors before making the decision. Forming a corporation should only be done after careful analysis.
These instructions have been developed to answer your questions regarding formation of a business corporation and to assist in the filing of a certificate of incorporation. The staff of the Department of State is dedicated to providing quality service. Although we cannot provide legal advice, we are available to assist in answering questions about filing corporate documents.
What is a Corporation? A corporation is a legal entity separate and distinct from the individual s who compose the business.
It has rights and abilities similar to those of a natural person. Principal features are perpetual duration, limited liability and easy transferability of interests. How Do I Form a Corporation? One or more persons, called "incorporators" may form a corporation. Incorporators are natural persons who are 18 or older.
The incorporator s signs the Certificate of Incorporation. Please see Section a 4 of the Business Corporation Law for the definition of a corporation.
What is a Professional Service Corporation? One or more professionals may form, or cause to be formed, a professional service corporation P.
A form and instructions for filing the Certificate of Incorporation for a P. The existence of the corporation begins upon the filing of the Certificate of Incorporation with the Department of State. After the corporate existence has begun, an organization meeting of the incorporator or incorporators must be held for the purpose of adopting by-laws, electing directors and transacting any other business.The New York State and City Corporation Income Taxes Portfolio discusses how the State franchise tax on general business corporations consists of N.Y.
Tax Law, Art. 9–A, §§ through –a, while the City general corporation tax is found in N.Y. City Admin. Code, Subchapter 2, .
How to Start Your Own Business in New York Starting a small business is considered by many to be the American dream. Outside . In an effort to promote a menu of brand-new sandwiches made with its legendary breadsticks, Olive Garden is hitting the road. The Italian-American casual chain restaurant will be embarking upon a cross-country food truck tour starting in New York City this month.
A Business Plan is a road map for your business- it details where you want to take your business and the route of how to get there. Developing a business plan will help you to determine if starting a business is a journey you wish to embark upon. Business Mentor NY is a free, easy-to-use social network that allows entrepreneurs and volunteer business mentors to connect so they can solve problems and build businesses together.
Join a growing community that has already created thousands of mentor-mentee matches and continues to make an impact through the power of mentoring to help small.
Starting a Practice in New York Starting up a solo or small firm has its own unique financial, technical and practical concerns, but beginning a practice also has its own set of rewards, fulfillment and accomplishments.