Last updated December 29, 2019

New York LLC Taxes

Quick Start Guide
This Quick Start Guide is a brief overview of how to form an LLC in New York.

Detailed Lessons:

 

New York LLC Costs:
New York LLC filing fee: $200
Newspaper fees: varies by county (see Lesson 2)
Certificate of Publication: $50
Biennial Statement: $9 (every two years)

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Depending on your type of business, you will likely need to register with the New York State Department of Taxation and Finance.

You will also need to file annual state income tax as well as other tax documents depending on the structure of your business and whether or not you have employees.

Calculating your tax obligations, especially if you have employees, can be complicated and if done improperly can negatively impact your LLC.

Taxes are Too Hard!

Taxes can be challenging and we recommend you get help from a tax professional once your LLC is formed.

Hiring a tax professional will not only help you keep your LLC in compliance with the State, but will also give you an advisor to go to for other business questions.

Whether you realize a profit or lose money, you will still need to file tax documents every year.

This is not something to be taken lightly. If you want to run a serious business and not run into trouble with the State, you should get assistance in filing your taxes properly.

How to Find a CPA/Accountant

A referral from a friend or someone else you trust is usually the best way to find someone to do your tax return.

You can also ask co-workers, acquaintances from local clubs or organizations you belong to, your neighbors, and other business people.

You could also ask your Twitter, Facebook, LinkedIn or other social media friends and maybe find a trusted name from a friend of a friend.

It’s as easy as typing into your social media account, “Hey – anyone know of a good accountant? I just formed a new LLC!”

If you can’t get a personal referral, then try doing a search for “accountant” or “certified public accountant” on Yelp:
www.yelp.com

Look for Compatibility

You should want someone who’s a good fit for your company, makes you feel comfortable, and is willing to answer all of your questions.

It should be someone you like personally as well as professionally.

It’s ok to take your time to find the right person.

We recommend talking with 2-3 people before making a final decision.

Resources

NY State Department of Taxation and Finance – Home Page:
https://www.tax.ny.gov/

NY State Department of Taxation and Finance – Telephone Contact Info:
https://www.tax.ny.gov/help/contact/

Matt Horwitz
Founder & Educator, LLC University®
Forming an LLC shouldn't be so complicated. Our step-by-step guide will make the process a breeze – and no complex legal jargon! LLC University® teaches people how to form an LLC for free in all 50 states. We hope you find our free guides and resources helpful in your business journey.
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