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How to Form a Corporation in New York Choose a Corporate Name. ... File Certificate of Incorporation. ... Appoint a Registered Agent. ... Prepare Corporate Bylaws. ... Appoint Directors and Hold First Board Meeting. ... Issue Stock. ... File New York Biennial Statement. ... Comply With Other Tax and Regulatory Requirements.
A foreign corporation is a business that has been incorporated in one state, but does business in another. If you currently operate an incorporated business out of state, it's considered a Foreign Corporation to New York and you must apply for NY Certificate of Authority to do business.
Specific Rules for New York Business Names For example, per the state's BSC Article 3, § 301, the name of a corporation or foreign corporation must "contain the word 'corporation,' 'incorporated' or 'limited,' or an abbreviation of one of such words."
If your corporation was formed in any state other than New York, and you want to have any ?nexus? in New York, you will need to file to qualify as a New York Foreign Corporation. A legal nexus is outlined in §1301-§1321, but pretty much means any business that is taxable in New York.
What are the key differences between these two business structures? The simple answer is that an LLC is a business entity whereas an S-corporation is a tax classification for a corporation. An S-Corporation is an elective tax classification that offers liability safeguards and transfers income through to the owners.