New York’s Naming Restrictions on LLCs You Need to Know

Forming a new LLC in New York?  Did you know that there are some words that can’t be used in your LLC name unless you meet specific criteria?  Check out some of them…

  • acceptance
  • benefit
  • blind
  • education
  • handicapped
  • history
  • labor
  • library
  • partnership
  • savings
  • secondary
  • trust

Why?

There are laws and statutes prohibiting the use of these words by individuals and companies who are not specifically licensed or qualified by certain governing bodies.  For example, Education Law §224(1)(a) explains that unless a person or company is an actual school as described in the law, the words in the company name can not imply that they are an educational institution.  (These words include library, preschool, institute, and history to name a few.)

Does the LLC name you want to use include one of these words?  Not sure?  Feel free to give us a ring.  Perhaps we can help…  NYLLCCO.com, 212-227-6611.

How long after I file my LLC can I start doing business?

You just filed your LLC.  Now what?  Do you have to wait to begin doing business?

No.  As soon as your Articles of Organization have been accepted by the Secretary of State (usually within 24 hours after your order is processed) you are an official LLC in New York State as stated on your filing receipt permitted to begin doing business. But don’t forget—you still have to publish.

Still have questions?  Call us — 212-227-6611.  We’re happy to help.

Inc or LLC: What’s right for me?

LLC versus INCIt’s one of the oldest (since 1994, anyway,) and commonly pondered topics in business formation: Inc* or LLC: What’s right for me?

The NY LLC Company has compiled a list of answers to commonly-asked questions.  We hope this comparison chart will help you easily sort through your ideas.  Don’t forget to ask your legal or accounting professional about what’s right for you.

Download the LLC vs. S-Corp comparison chart here.

*For the purpose of this article we are using corporation and s-corp interchangeably.

Still have questions?  Call us.  212-227-6611

NY LLC Company’s sister, JP&R, wins “Best Legal Notice Advertising and Services Firm” 4th Year in a Row!

Congratulations to the NY LLC Company’s sister company JP&R Advertising Agency, Inc. for winning the prestigious “Best Legal Notice and Advertising Firm” award for the fourth year in a row!

The rankings survey, facilitated by the New York Law Journal, has been tallying votes from law firms across the nation since 2010.  Since then JP&R has consistently been chosen by legal professionals from coast to coast as the number one provider of legal notice advertising services.

Stay tuned for a link to the New York Law Journal 2013 Reader Rankings special report.

 

 

Is a Registered Agent required by the New York LLC Law?

Who, what and why?  The three most common questions we hear when asking about a Registered Agent.

Who is a Registered Agent, what do they do, and why do I need one?

A Registered Agent is a person (or company) designated on your Articles of Organization who will be sent official correspondence by the New York Department of State.  While the NY LLC Law requires that a name and physical address is listed on your Articles of Organization for the purpose of receiving any process of service or other correspondence, the law does not direct that the recipient should be an actual Registered Agent service.  All businesses are free to use their own address– or any address–  as this address (or the address within or without the state to which the Secretary of State shall mail a copy of any process against the limited liability company.)

There are, however, several reasons why a business might choose a Registered Agent service. Some business owners prefer to keep their personal information private. Others choose a Registered Agent service in lieu of including their home office address on the Articles of Organization. Choosing a Registered Agent to forward official mail to the business owner is a personal preference.

The NY LLC Company offers this service.  If you have additional questions about the Registered Agent Service feel free to call or email us.

NY LLC Company | 212-227-6611

Can I add a marketing message to my Notice of Formation?

So often we hear requests from clients asking to include their slogan or other marketing messages in their Notice of Formation.  Unfortunately, that’s not possible.  Here’s why…

The form and language of the newspaper publication (often referred to as a Public Notice) is spelled out in the LLC Law which requires that a specific set of information be present in the notice. If the notice has anything other than the required information, the state may reject it. The purpose of this public notice is to comply with the statue and complete the filing process so your business will be allowed the limited liability protection the law provides. It should not be confused this with commercial advertising of your new business.

Still need help?  Contact us.  212-227-6611.

What should I consider when choosing my LLC name?

Filing an LLC in New York? Not sure how to format your new company’s name?

Once your Director of Marketing has had her say, it’s time to make sure the name of your new company meets the State’s filing requirements…

Most importantly, be sure that you are using the correct spelling of your desired LLC name. In the event that you realize after the filing was completed that you misspelled the LLC name you can correct it. However, you will incur additional charges to officially amend the name with the Secretary of State. (Note: When publishing the Notices of Formation, the original name of the LLC must be used– regardless of how many times it may have changed– as per the New York Secretary of State.)

Second, you MUST have the letters LLC in the name formatted as LLC or L.L.C. either with or without a comma separating the letters from the company name.

Still have questions?  Feel free to call us at NY LLC Company (212-227-6611) or email us.

How are the newspapers chosen for my Notice of Formation?

Just before the publication process commences some customers wonder if it is the NY LLC Company that chooses where their ads will run… Find out how it works…

Q. Does the NY LLC Company choose the newspapers for my Notice of Formation?

A. No. The law instructs the County Clerk to designate one daily and one weekly paper. Both will be newspapers in the county where you have filed to do business. As part of our service we obtain the official designations from the County Clerk. After submitting your order we promptly begin the process.

Have more questions?  Feel free to call us any time! 212-227-6611.

Do I need to use a service to obtain my Federal EIN?

At the NY LLC Company we are often asked about obtaining an EIN for customers…

Q: Do I need to use a service to obtain my Federal EIN?

A: Obtaining your own EIN is easy to do without giving away your private personal information (such as your social security number,) or further tapping into your start-up reserves.

As we explain above, during the process of obtaining your EIN with the IRS the owner (or authorized representative) is asked for a social security number. While we love you, we don’t want your social security number.

Not only will doing it yourself keep your social security number private, it will ensure the correct answers to the basic questions that the process asks you. Who knows your business better then you?

Simply visit the website below for a step-by-step guide to obtaining your EIN. It is available to you instantly after your final click.

Best of all, it’s free (and fast!)

http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Employer-ID-Numbers-%28EINs%29-