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Frequently Asked Questions
Incorporate in New York - Form a LLC in NY - NY Incorporation Service
Incorporations
Limited Liability Companies
Tax ID Number
Certificates for Framing
General FAQ


  Corporations


  What's the difference between a "C" corporation and a "S" corporation?

  An "S" Corporation provides the benefits of incorporation, while eliminating "double taxation." Rather
  than being taxed at the corporate level, profits and losses are included in your personal tax return.
  These extra tax advantages are not available to shareholders in a regular "C" corporation. You may be
  subject to double taxation. The corporation is considered a separate entity from its shareholders and
  is taxed on its profits. When these profits are distributed to the shareholders as dividends, the
  dividends are taxed again on the personal level.

  What is a Registered Agent and do I need one?

  A Registered Agent accepts and forwards any official legal and tax correspondence. You are required
  to maintain a good standing status with the Registered Agent for continued service.

  Does the name I choose have to end with "Inc."?

  The corporate name you choose must include a suffix.  The word "corporation", "incorporated",
  or "limited" either in full or abbreviated must be the ending of the name.

  What are the advantages of a C Corporation?

  • Limited Personal Liability
  • Perpetual Existence
  • Tax rate on corporate income is lower than the tax rate on personal income.

  How is a C Corporation Managed?

  By its directors and officers.

  How many shares of stock will my corporation need?

  Standard filing is 200 No Par Value.

  When will I know if the name I have chosen has been accepted?

  Within 24 hours of receiving your application.

                                                                                                           
 
S-Corporations

  What is a Registered Agent and do I need one?

  A Registered Agent accepts and forwards any official legal and tax correspondence. You are required
  to maintain a good standing status with the Registered Agent for continued service.

  What is Form 2553?

  This form is to be filed with the IRS to get S-Corporation status. It is included
  in your corporate kit.

  What are the advantages of an S Corporation?

  • Limited Personal Liability
  • Perpetual Existence
  • Tax rate on corporate income is lower than the tax rate on personal income.
  • Pass-through Taxation

  How is an S Corporation managed?

  By its directors and officers.
                                                                 
                                                                 

  Limited Liability Companies

  What is a Limited Liability Company (LLC)?

  Members receive the limited liability and tax benefits of an S Corporation without having
  to conform to the S corporation restrictions.

  What is a Registered Agent and do I need one?

  A Registered Agent accepts and forwards any official legal and tax correspondence. You are required
  to maintain a good standing status with the Registered Agent for continued service.

  What is a Publication Requirement?

  LLC filing requirements mandate a published announcement in print upon being filed.
  Once completed, an 'Affidavit of Publication' must be submitted to inform New York State that the
  requirement has been satisfied.

  Can an LLC be formed with just one member?

  Yes.

  How is an LLC taxed?

  Pass-through Taxation.

  Am I required to hold LLC meetings?

  No

  When will I know if the name I have chosen for my LLC has been accepted?

  Within 24 hours of receiving your application.
 
                                                                                                                                 

  Tax ID Number


  Do I need a Tax ID Number for the corporation?


 
Yes.  You will not be able to open a bank account without a Tax ID Number.
 

  Certificates for Framing

  What is a Framing Certificate?

 
It is your official Certificate of Existence printed on 8.5"X11" parchment paper and is for the
  purpose of displaying in your place of business. 
 
  General FAQ


  How do I get started?

  Fill in the online application to form a new Corporation or LLC.

  How long will it take to form my company?

  It will take about 10 minutes to complete the electronic filing application. 

  What is a Registered Agent and do I need one?

  A Registered Agent accepts and forwards any official legal and tax correspondence. You are required
  to maintain a good standing status with the Registered Agent for continued service.

  What do I need to do after I place my order?

  Print the filing confirmation after you submit your payment.  You will receive a confirmation via
  email.

  Does forming a Corporation or an LLC (limited liability company) require an attorney?

  No

  What is your cancellation policy?

  Most requests can be cancelled before noon (eastern standard time),
  the day after your filing was submitted for processing. Once your filing has been processed
  you can not cancel your request. 
 
  All correspondence will be shipped via e-mail and/or US Mail. 
 
  Please direct all questions to our
Service Dept.

                                                                                                         



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