I
United States

United States

Company Formation in New York

State of New York — Department of State (Division of Corporations)

Formation Time
2–5 business days
Min. Capital
No minimum
Corporate Tax
6.5%–7.25% state (plus NYC General Corporation Tax if operating in NYC)
Foreign Ownership
100%

Overview

New York is the financial capital of the world and the preeminent global center for commerce, media, advertising, fashion, legal services, and international diplomacy. Incorporating a New York entity confers immediate global prestige, unmatched access to Wall Street investment banks, private equity titans, and the world's most sophisticated institutional capital. New York State imposes a unique statutory requirement under Section 206 of the New York Limited Liability Company Law: every newly formed LLC must publish a notice of formation in two local newspapers designated by the county clerk once a week for six consecutive weeks and file a Certificate of Publication with the Department of State within 120 days. While publication in New York County (Manhattan) can cost $1,000–$1,500 due to circulation rates, Incorp International optimizes this statutory requirement by establishing registered offices in cost-effective New York counties (such as Albany), reducing publication costs by over 70%. For companies in fintech, media, luxury, fashion, and global trade, a New York corporate address provides unmatched market credibility.

Global financial capital
Wall Street prestige
Albany publication savings
World-class banking
Deep capital markets

Why Choose New York

1

Financial capital of the world — unmatched access to Wall Street, VC, and private equity

2

Unrivaled brand prestige and commercial credibility for international clients and partners

3

Direct access to New York City's $2 trillion metropolitan economy

4

World capital for media, advertising, fintech, fashion, legal, and professional services

5

Access to the world's deepest commercial banking and cross-border trade institutions

6

Optimized Section 206 publication process via our Albany registered office network

7

No minimum capital requirements and fast electronic Department of State processing

8

Seamless integration with US and international banking systems

Business Entity Types

EntityOwnershipDirectorsCapitalTaxBest For
LLC100%N/A (member or manager managed)NonePass-through taxation; annual NYS filing fee based on gross NY income ($25 to $4,500)Agencies, creative studios, international consultancies, boutique brands
Business Corporation100%1None21% federal CIT; 6.5%–7.25% NYS Article 9-A corporate franchise taxFinancial services, tech platforms, venture-backed ventures, media conglomerates

Step-by-Step Formation Process

1

Name Availability & Department of State Filing

2–3 days

Search NY DOS database and file Articles of Organization electronically.

2

Federal EIN Issuance

3–10 business days

Secure Employer Identification Number from the IRS for corporate operations.

3

Section 206 Newspaper Publication

6 weeks

Publish statutory formation notice in two county-designated newspapers for 6 consecutive weeks.

4

Certificate of Publication Filing

1–2 weeks

File affidavits of publication and Certificate of Publication with the Department of State.

5

Corporate Banking & FinCEN BOI

3–7 business days

Complete FinCEN BOI reporting and open tier-one US corporate bank accounts.

Costs & Fees

Government / License FeeUSD 200+
Our Service FeeUSD 1,200 – 3,000
Annual RenewalUSD 500+

Fees are indicative and may vary based on business activity, entity type, and additional approvals required. Contact us for a precise custom quote.

Get Custom Quote

Banking

New York offers the most sophisticated commercial banking ecosystem on Earth. Entities can open accounts with global money-center banks (JPMorgan Chase, Citibank, Morgan Stanley) or high-efficiency fintech platforms.

Account Opening Time
3–7 business days
Multi-Currency
Yes — multiple currencies supported

Recommended Banks

JPMorgan ChaseCitibankMercuryRelayBank of America

Tax Overview

Corporate Tax
6.5%–7.25% NYS corporate franchise tax; 21% federal CIT (plus 8.85% NYC General Corp Tax if located in NYC)
Personal Income Tax
4.0%–10.9% NYS income tax (applies to NY-sourced income and NY residents)
VAT / Sales Tax
4% state sales tax (8.875% combined in NYC)
Capital Gains Tax
Taxed as ordinary income at state level
Withholding Tax
30% federal statutory (reduced by treaties)
Double Tax Treaties
68 countries

New York LLCs pay an annual state filing fee (Form IT-204-LL) based on New York gross source income, starting at $25 for income under $100k up to $4,500 for income over $25M. Foreign owners with no NY-sourced income pay the minimum $25 fee.

Frequently Asked Questions

What is the New York LLC Section 206 publication requirement?
Section 206 of the New York LLC Law requires newly formed LLCs to publish a notice of formation in two newspapers (one daily, one weekly) in the county where the office is located, once a week for six consecutive weeks. Affidavits of publication and a Certificate of Publication must be filed with the Department of State within 120 days. Incorp International handles the entire publication and filing process seamlessly.
How can Incorp International lower New York publication costs?
Newspaper publication in New York County (Manhattan) is notoriously expensive, often costing $1,200 to $1,800. Incorp International provides a statutory registered office address in Albany County, where publication costs are dramatically lower ($300–$400), saving clients over $1,000 in mandatory startup expenses.
Does a New York LLC pay state income tax if all business is international?
New York LLCs are pass-through entities. If a foreign owner has no New York-sourced income, no physical operations in New York, and no New York employees, they generally pay 0% New York personal income tax, paying only the minimum annual NYS IT-204-LL fee of $25.
What is the difference between operating in New York State vs New York City?
Operating physically within New York City incurs an additional layer of local taxation: the NYC General Corporation Tax (8.85%) or NYC Unincorporated Business Tax (UBT, 4%) on LLCs. If your business is registered in New York State but operates purely online or outside NYC boundaries, you are exempt from NYC municipal business taxes.
How often do New York companies need to file state reports?
New York requires a simple Biennial Statement to be filed with the Department of State once every two years (fee is just $9). Additionally, LLCs file annual state tax form IT-204-LL by March 15.
Can foreign non-residents open a bank account in New York?
Yes. Foreign owners of New York entities can open FDIC-insured US corporate accounts remotely through our partner digital banking networks or establish accounts with major New York commercial banks.