How Long Does It Take To Form an LLC in New York (The Guide)
The New York Department of State reports a year-over-year increase of approximately 30% in new LLC registrations, indicating a vibrant and expanding entrepreneurial ecosystem within the state.
Having considerable experience as an expert in Merger's and Acquisition, I have worked with corporations, businesses, and individuals in the formation of limited liability companies.
Working with our qualified business consultants in the state, we spent weeks researching the filing alternatives and processing durations in New York.
To assist you with the filing, you can hire an LLC service. Navigate through our list of top services for LLC creation in New York to find the company that is the most suitable for your application.
Quick Summary
- It takes an average of 7 business days to form an LLC in New York online and by mail.
- Expedited service is available for an additional fee of $25 (24-hour delivery), $75 (same-day processing) and $150 (2-hour turnaround time).
- The New York Department of State reports a year-over-year increase of approximately 30% in new LLC registrations, indicating a vibrant and expanding entrepreneurial ecosystem within the state.
- I always advise entrepreneurs to ensure all their LLC formation papers are in order and pay the required state fees to prevent delays in the application.
What is The Fastest Way to Start an LLC in New York?
The fastest way to start an LLC in New York is filing online or by mail using expedited service. The options available include same-day processing, 24-hour delivery and 2-hour approval time.
You need to pay the corresponding expedited cost and state filing fee so that the agency will process your documents.
Please indicate on the form if you are paying extra costs for accelerated processing.
Statistics from the state of New York show that less than 7% of LLC formation applications are delayed or require additional documentation, suggesting that the majority of filings are complete and accurate, contributing to a more streamlined formation process.
LLC Processing Time in New York
In New York, limited liability company owners can file their formation papers online, by mail, and in person.
Additionally, expedited service is available for those who want their registration approved faster.
Here's a detailed description of each New York LLC filing method and the processing times:
1. Expedited South Carolina LLC Processing Time Online or By Mail (2-hour delivery + $150)
After thorough research, I discovered that the New York Secretary of State offers three different expedited processing options for LLC formation at extra fees [1].
These options include the following:
- $25 for a 24-hour delivery
- $75 for same-day delivery
- $150 for a 2-hour delivery
Note that these fees are paid in addition to the regular state filing fee for LLC registration.
2. Non-Expedited South Carolina LLC Processing Time By Mail (7 business days)
The processing time for standard mail filings is within 7 business days.
You may download the articles of organization PDF forms online on the official SOS website and fill in the correct details of your LLC.
Before mailing the articles of organization, include the state fee and the exact SOS address on the envelope.
I had to pay for my registration papers using checks or money orders addressed to the Secretary of State.
3. South Carolina LLC Processing Time Online (7 business days)
All online submissions are processed within 7 business days.
You can apply for a New York LLC online by visiting the Division of Corporations online filing system portal. Fill in the required information and complete the process by paying the state fees.
When I had to register a domestic or foreign LLC online, I had to shell out a $200 state fees to cover the certificate of incorporation [2].
The method of payments available include personal checks, credit or debit cards, Discover and American Express.
4. South Carolina LLC Processing Time In Person (7 business days)
In person filings take 7 business days to be approved but you can pay extra for expedited same-day processing.
Once you download your registration papers, fill out all your LLC details and sign where necessary.
When all formation papers are in order, you can drop off the forms at any of the SOS offices in New York during regular business hours between 9.00 am and 4.30 pm.
In my experience, if you submit your registration papers later than 4.00 pm, expedited shipping will not be guaranteed, and your documents will be processed on the following business day.
"Detailed and correct submissions are essential; errors in your LLC paperwork can lead to significant delays in New York."
- Jon Morgan, CEO & Editor-in-Chief of Venture Smarter
Factors Influencing The Formation Timeline Of New York LLCs
The factors affecting the formation timeline of New York LLCs include the following:
- Processing issues: The state will reject documents with lacking information or inaccurate data. Be sure to review your formation papers before submission.
- Volume of filings: The agency will take longer to process documents due to a high volume of LLC filings.
- Weekends and holidays: Public offices do not conduct business during this time. Expect a prolonged approval time if you filed before weekends and holidays.
- Peak seasons: Most businesses apply and renew during the end or beginning of the year. That's why, whenever possible, I avoid filing during this period to prevent potential processing delays.
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FAQs
Where Can I Check the Status of My New York LLC Formation During the Processing Period?
You can check the status of your New York LLC formation during the processing period by contacting the Department of State in 99 Washington Avenue, Albany or through email.
Is There a Difference in Processing Time for Domestic and Foreign LLCs in New York?
There is no difference in processing time for domestic and foreign LLCs in New York since the Department of State will review and approve the documents in the order they are received.
Does an LLC Need a Business License in New York?
An LLC needs a business license in New York, depending on the nature of operations. Special licenses and permits are required in the state or local level.
References:
- https://dos.ny.gov/system/files/documents/2018/10/1515-f.pdf
- https://www.businessexpress.ny.gov/app/answers/cms/a_id/2443/kw/domestic%20LLC
