Starting a business and filing for a limited liability company (LLC) is a great way to protect your personal assets and ensure that your business is treated as a separate entity. But before you can open your doors, you’ll need to finish the filing process and wait for your LLC to be approved in the state. The exact length of time it takes will depend on your situation. Here’s what your New York business law attorney wants you to understand about the approval process.
How Long You’ll Have to Wait
The state can typically process your paperwork in about a week, but it depends on how many applications they receive. In some instances, it may take several weeks to a month to process everything with the state.
This assumes that everything is filled out correctly and you’ve followed all necessary steps to ensure that your LLC is valid.
What Makes It Take Even Longer
However, there are a few things that can delay the formation of your LLC. Here are some of the most common delays business owners face when establishing an LLC.
Leaving Errors on Your Application
One of the biggest reasons for delay is the submission of applications with clear errors on the forms. Before you submit anything, review the forms you’ve filled out. Check the information in each box for accuracy and make corrections as you go. Even a spelling error on your business’s address or name could delay your approval.
Not Using a Registered Agent
Registered agents help take the stress out of forming an LLC. They’re able to accept any mail and legal documents sent to your business during normal business hours. Without a registered agent, you may not get the documents needed in a timely manner, which could create further delays in approval.
Filing for an LLC in the Wrong State
Some people do benefit from filing for an LLC in a state with fewer restrictions like Delaware or Wyoming, but most small business owners don’t need to. And filing in a different state can slow the process down since different states may have different requirements.
This can make it harder to file and could end up slowing your processing time down. Remember, you’ll need to work with a registered agent and attorney that’s licensed in the state you’re filing in. If you’re going out of state, finding someone to review your documentation and make sure everything is on track can be more difficult.
How to Speed Things Up
The best way to ensure that your application for an LLC in New York is approved quickly is to work with an experienced New York business law attorney. They’ll be able to review your documentation and identify any errors that could cause further delays. Even better, they’ll help you decide if an LLC is the best way to organize your business so you can get started with confidence.
At Gold Law Firm, we want to help business owners get their companies up and running fast. Contact us to schedule a consultation and let us help you file for an LLC.