Legal Question in Business Law in New York
Were to Incorporate
I live in NY and am going to Inc. my business. The qestion is, do I have to register in NY, or can I do it in any state? The business location will only be in NY but the fees are cheeper in other states. Is it legal?
2 Answers from Attorneys
Re: Were to Incorporate
Many companies, especially larger ones, incorporate in Delaware because of the corporate friendly rules there. You probably can incorporate anywhere, but there any many reasons why you may, or may not.
The fees should be your least concern.
Good Luck and Happy New Year.
RRG
Re: Were to Incorporate
New York is corporate friendly and generally an inexpensive state in which to form a corporation
In order to comply with several laws, an out of state corporation must register to do business in New York if it conducts business in the state. This adds to the cost of forming a corporation out of state.
I think that you will find that forming a New York corporation is the most efficient route.
Have you considered a Limited Liability Company? If it is formed outside of New York County and the Bronx it is efficient and not too expensive. There are tax advantages that may be attractive.
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