When you have decided to form a corporation in New York, then there are several steps that you need to take so that you can create a corporation. A corporation stands out as a legitimate entity and has a separate and unique status from the people who operate and run it. When you form a corporation, you can easily safeguard all your liabilities and assets without any hassle.
Steps to form a corporation
To know how to start a corporation in New York State, given below are some of the steps that you need to follow. Take a look!
- Select an appropriate name for the business.
- Take a look at the availability of the name.
- Get in touch with the registered agent.
- Register a “Doing Business As” or DBA name.
- Appoint the directors for the business.
- File the articles of your incorporation with your state’s Secretary of State office.
- Be sure to write down your corporate bylaws.
- Draft a shareholder’s agreement.
- Conduct the initial board of directors meeting.
- Get the business license and permits.
- Issue the stocks.
- Follow the New York biennial report needs.
- Make decisions on how to wish to keep all your records.
- Make sure to open a bank account.
- Register with the local tax agencies, state, and IRS (Internal Revenue Service).
The Summary!
Even though starting your corporation can be time-consuming and expensive, it will help ensure that you are not liable for any legal issues associated with the business. The decisions of forming a company is an important one, and for that, you need proper guidance from the experts. Get in touch with your attorneys, advisors, and accountant so that you can make the right choices.
