Starting a business is a great way to share your passions with the world. But before you can start offering products or services to the public, you’ll need to make sure your company is set up the right way. One of the most popular ways to set up a business is to form a limited liability company (LLC). Regardless of the way you set your business up, you’ll likely have to pay at least a small fee to register it with the state. So, how much does it cost to form an LLC in New York? Your trusted New York business formation attorney explains.
How Much Does It Cost to Form One?
In New York, forming an LLC is fairly affordable. Most business owners will pay between $250 and $3,000 to form their LLCs and register them with the state. These are the fees you can expect to pay when you start the process:
- Reserving a business name: Your LLC must have a unique name that other businesses in the state are not already using. As you create your list of potential names, you may want to reserve it with the state. This takes the name off the table for other businesses opening at the same time. Currently, businesses can expect to pay $20 per name that they reserve. Keep in mind that reserving names is completely optional.
- Requesting a DBA: DBAs or “doing business as” designations let you form the LLC under one name and do business under another. This costs $25 for LLCs forming in New York.
- Filing your LLC: The state charges a $200 filing fee for all LLCs. This fee is non negotiable.
- Publication fee: New LLCs must also pay a $50 publication fee to the Department of State.
- Notification fees: You’ll need to announce the formation of your LLC in at least two newspapers for six weeks. The exact fee you’ll pay for these announcements will vary depending on the papers you choose to work with.
- Additional fees: If you choose to work with a New York business formation attorney to ensure that everything is filed correctly, you’ll need to pay for their services. Again, the exact price will vary from firm to firm and may be dependent on the types of services you’re using them for.
Is an LLC the Cheapest Way to Establish a Business?
Opening an LLC is still one of the more affordable ways to establish a business in New York, especially when you consider the potential long-term impacts. But errors in the application process or in your filings can delay your ability to get the business up and running quickly. That’s why it’s so important to work with an experienced New York business formation attorney from the very beginning.
You may end up paying a slightly higher price, but you’ll likely get your LLC up and running faster and won’t have to deal with the stress of navigating the formation process on your own.
Schedule a Consultation Today
If you’re ready to get your LLC off the ground, don’t try to do it on your own. Partner with an experienced New York business formation attorney and get the help you need from the very beginning. Contact Gold Law Firm today to schedule a meeting.