The Ultimate Guide to LLC Costs in NY: A Comprehensive Breakdown

In this article, we'll dive into the costs associated with forming and maintaining an LLC in New York. From filing fees to annual report fees, we'll cover it all.

What is an LLC?

A Limited Liability Company (LLC) is a type of business structure that offers personal liability protection to its owners, known as members. It's a popular choice for small business owners, entrepreneurs, and investors.

LLC Costs in NY: Filing Fees

The first step in forming an LLC in NY is filing articles of organization with the New York Department of State. The filing fee is $120.

Annual Report Fees

After forming your LLC, you'll need to file an annual report with the New York Department of State. The fee for this report is $9.

Other Costs to Consider

In addition to filing fees and annual report fees, there are other costs to consider when forming and maintaining an LLC in NY. These include:

• Business licenses and permits
• Taxes (e.g. state and federal income taxes)
• Insurance (e.g. liability insurance)
• Accounting and bookkeeping services
• Legal fees (e.g. for contract review and negotiation)

Conclusion

Forming and maintaining an LLC in NY can be a complex and costly process. However, by understanding the various costs associated with this business structure, you can make informed decisions and plan accordingly.