New York
Corporate Name Endings
* The name must contain one of the following words or an
abbreviation thereof: "corporation", "incorporated", "limited".
The name may not be same as that of any domestic or authorized
foreign corporation or reserved name or so similar thereto as to
be confusing. The name may not contain any word or phrase
indicating that corporation is formed for any purpose other than
purpose for which corporation may be and is formed. The use of
certain enumerated words and abbreviations including banking,
insurance and various professions is prohibited or restricted.
Articles of Incorporation Requirements
* Director Information
* Minimum Number - Three or more, except if the corporation is
owned by less than 3 shareholders, in that case the
corporation may have less than three directors but that
number may not be less than the number of shareholders
* Residence Requirements. - No provision.
* Age Requirements - Must be 18 years old.
* Directors are required to be listed in the articles of
incorporation.
* Officer Information
* The officers are not required to be listed in the articles of
incorporation.
* Stock Information
* An increase in the shares may cause an increase in the
initial filing fee.
Yearly Requirements
* Annual Statements
* Each domestic corporation and foreign corporation authorized
to do business in New York must file a biannual statement of
addresses and directors. The applicable filing period for a
corporation is the calendar month during which its original
certificate of incorporation or application for authority was
filed (or the effective date thereof). The reporting periods
run from April 1 through March 31. A $9 filing fee must
accompany each statement.
* Franchise Tax Rate - Based on two Factors
* First, the tax is based on the highest of: (a) 9% of entire
net income allocated to New York, , or (b) 1.78 mills (or
.00178) of business investment capital allocated to New York
(with a maximum of $350,000), or (c) 3.5% of minimum taxable
income allocated to New York or (d) fixed dollar amount of:
$1,500 (if the corporation has a gross payroll of $6,250,000
or more); $425 (if the gross payroll is less than $6,250,000
but more than $1,000,000); $325 (if the gross payroll is not
more than $ 1,000,000); $800 (if the gross payroll is $1,000
or less with total receipts of $1,000 or less and average
value of gross assets is $1,000 or less);
* Second: added subsidiary tax of 0.9 mill per $1 of subsidiary
capital.
For more information on taxes, visit www.tax.state.ny.us
