Are you planning to incorporate a business in New York? The first thing you need to do is file a Certificate of Incorporation with the New York Department of State. Filing the certificate of incorporation in NY is the very first step in forming a corporation. This article will guide you through the process of filing a New York Certificate of Incorporation and providing tips to make the process easier.
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What is a Certificate of Incorporation?
A Certificate of Incorporation is a legal document that is filed with the NY Department of State. This document officially incorporates your business and is an essential step for any LLC or Corporation in New York. It outlines the basic information about your business, including the name, purpose of the corporation, and name and address of the registered agent. Once you have filed this document, your corporation will be regarded as a separate entity based in New York State.
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Step-by-Step Guide to Filing a NY Certificate of Incorporation
Below are the detailed steps require to file NY Certificate of Incorporation:
Step 1: Choose a Name For Your New York Corporation
One of the first steps to filing a certificate of incorporation is choosing the right name for your corporation. Ensure your chosen name is unique and that no one else is using the same name in New York. The name should also be available and not already registered. One simple way to check is by visiting the New York Department of State search engine.
Step 2: Create a Business Purpose
After choosing a suitable business, you will need to provide a brief explanation of the corporation purpose. Ask yourself, what products or services will my corporation provide, or what are its objectives? Be concise, narrow your focus, and state clearly what the business seeks to achieve.
Step 3: Assign a Registered Agent
A registered agent will be responsible for receiving any official documents on behalf of the corporation. This agent may also receive notices of lawsuits in case someone tries to sue the corporation. The registered agent's responsibilities also include notifying executive members of the business should documents or other communication be received.
Step 4: Select the Incorporators and the Board of Directors
The incorporator(s) are the people who will submit the Certificate of Incorporation to the respective state government office. The Board of Directors represents key decision-makers within the corporation. Choosing your board correctly is crucial regarding business success. Finding and appointing typically reliable board members is essential, speak to colleagues or other experienced business people within your state for recommendations.
Step 5: Draft the Bylaws'
In the next step, a bylaw document must be drafted as per corporate governing rules. Bylaws govern, direct, and manage corporation activities. It is essential to ensure your bylaws will provide appropriate guidelines for operating your business and set protocols for comprehensive asset management.
Step 6: File and Pay Filing Fees
After all the steps above have been completed, take a copy of all the necessary documents and file your NY Certificate of Incorporation through NYS's CONNPOSIT system – the NY Department's respective filing system. Pay the applicable state fees, which is typically between $100 and $300 to complete the filing process.
Tips and Considerations for Filing Your NY Certificate of Incorporation
- Ensure a detailed and descriptive corporate purpose in the Certificate of Incorporation document
- Research companies similar to your new startup's name to develop precise and descriptive Corporative Letterhead
- Choose thought trusted, reliable friends/family to round out your initial Board of Directors
- Corporations want to consider adopting their corporate seal in their documents and filing
- Confirm, double-check, and evaluate all applicable deadlines and closures coming from New York State government body on top of new COVID-19 Health and safety precautions
Conclusion
Filing a New York Certificate of Incorporation is a necessary aspect of creating a business within the state. Incorporation is a tedious process involving tedious paperwork, state taxation, state forms, and various state government regulations. You will need to take time to research a variety of matters such as Board Director positions, corporate formation filing, company name designation, and purpose documentation. Maintaining state-level taxation payments, filed reports, or additional documentation paperwork related to the incorporation, are crucial aspects of Incorporation someone interested in filing a NYS Certificate of Incorporation cannot take lightly. However, with correct customer counsel, corporation counsel, attorney guidance, and patience, it is possible to form your own corporation in New York and compete in America's biggest and most competitive markets.
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