To successfully register your company in the state of New York, any international entrepreneur will need to follow the next steps:
- Choose a unique business name: You must choose a name for your business that is not already in use by another company in New York. You can check the availability of your desired name by searching the New York Department of State’s database of business names. In addition, you can also register your trade name or DBA (Doing Business As) with the county clerk’s office where your business is located.
- File articles of incorporation: To officially create your New York company, you will need to file articles of incorporation with the New York Department of State. This document will include information about your company’s name, purpose, and management structure. You will also need to include the names and addresses of the incorporators and the number of shares of stock that the corporation is authorized to issue.
- Obtain any necessary licenses and permits: Depending on the type of business you are operating, you may need to obtain specific licenses and permits in order to legally operate in New York. This could include a sales tax permit, a food service permit, and a liquor license, among others.
- Register for state taxes: All businesses in New York are required to register for state taxes, including sales tax and unemployment insurance tax. You will also need to register for other taxes like the NY State Corporate Franchise Tax, NY State Sales Tax, NY State Withholding Tax, NY State Unemployment Insurance Tax and NY State Disability Insurance Tax.
- Register for an EIN: You will also need to obtain an Employer Identification Number (EIN) from the IRS. This is a unique number that will be used to identify your business for tax purposes.
- Comply with Local regulations: You may also need to comply with New York regulations and obtain any necessary permits, licenses, or certifications.
- Keep records and file annual reports: New York requires all businesses to file annual reports with the Department of State, and keep accurate records of your business transactions.
Damalion helps you navigate the complexity of setting up your company in New York and open a bank account.
To start your business in the Big Apple, please contact your Damalion expert now.
