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New York is a state in the Northeastern U.S., known for New York City and towering Niagara Falls. NYC's island of Manhattan is home to the Empire State Building, Times Square and Central Park. The state is bordered by New Jersey and Pennsylvania to the South and Connecticut, Massachusetts, and Vermont to the East. The state has a maritime border with Rhode Island, East of Long Island, as well as an international border with the Canadian provinces of Quebec to the North and Ontario to the Northwest.
New York has a total area of 54,555 square miles (141,300 km2).
The United States Census Bureau estimates the population of New York was 19.45 million (2019).
The most widely spoken language in New York is English. More than 600 languages are spoken in the New York metropolitan area, making it one of the most linguistically diverse regions in the world.
The Government of New York is the governmental structure as established by the Constitution of New York. New York government, as at the national level of government, power is distributed among three branches: Legislative, Executive, and Judicial.
In 2019, the real GDP of New York was about $1.751 trillion. The GDP per capita of New York was $90,043 in 2019.
Finance, high technology, real estate, insurance, and health care all form the basis of New York City's economy. The city is also the nation's most important center for mass media, journalism, and publishing. Also, it is the country's preeminent arts center.
New York City and the surrounding New York metropolitan area dominate the economy of the state. Manhattan is the leading center of banking, finance, and communication in the United States and is the location of the New York Stock Exchange (NYSE) on Wall Street.
United States Dollar (USD)
The business laws of New York are user-friendly and often adopted by other states as a standard for testing business laws. As a result, the business laws of New York are familiar to many lawyers both in the US and internationally. New York has a common law system.
One IBC supply incorporation in New York service with the common type Limited Liability Company (LLC) and C-Corp or S-Corp.
The use of the bank, trust, insurance, or reinsurance within the name of the LLC is generally prohibited as limited liability companies in most states are not allowed to engage in a banking or insurance business.
The name of each limited liability company as set forth in its certificate of formation: Shall contain the words "Limited Liability Company" or the abbreviation "L.L.C." or the designation "LLC";
No public register of company officers.
Just 4 simple steps are given to start a business in New York:
* These documents required to incorporate a company in New York:
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How to start a business in New York, USA
There is no minimum or a maximum number of authorized shares since New York incorporation fees are not based on the share structure.
Only one director required
Minimum number of shareholders is one
Companies of primary interest to offshore investors are the corporation and the limited liability company (LLC). LLCs are a hybrid of a corporation and a partnership: they share the legal features of a corporation but may choose to be taxed as a corporation, partnership, or trust.
New York law requires that every business have Registered Agent in the State of New York who may be either an individual resident or business that is authorised to do business in the State of New York
New York, as the state-level jurisdiction within the US, has no tax treaties with non-US jurisdictions or double tax treaties with other states in the US. Rather, in the case of individual taxpayers, double taxation is minimised by providing credits against New York taxation for taxes paid in other states.
In the case of corporate taxpayers, double taxation is minimised through allocation and appointment rules related to the income of corporations engaged in multi-state business.
For corporations, limited partnerships and limited liability companies, who must file with the State, the filing fee is US$ 25, though corporations must also pay an additional county- specific fee. The corporation county fee is $100 for any county in New York City and US$ 25 for any other county in New York State. Filers with the State may also choose to pay an extra fee for expedited processing, which will be either US$ 25, US$ 75 or US$ 150 depending on the speed of processing chosen.
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Fiscal-year returns are due the 15th day of the third month after the end of the tax year.