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What are the legal requirements for starting a new business in New York?

Picture of Chris Battis By   ·  1 minute read

The legal requirements for starting a new business in New York are as follows:

  1. Choose a business structure: The first step in starting a new business in New York is choosing a business structure, such as a sole proprietorship, partnership, limited liability company (LLC), or corporation.
  2. Register your business: All businesses must be registered with the New York State Department of State. This can be done online through the NYS Business Express portal or by mail.
  3. Obtain necessary permits and licenses: Depending on the nature of your business, you may need to obtain certain permits and licenses from state and local agencies. For example, if you plan to serve food, you will need a food service permit from the health department.
  4. File for taxes: All businesses must file for taxes with the Internal Revenue Service (IRS) and the New York State Department of Taxation and Finance. You will need to obtain an Employer Identification Number (EIN) from the IRS if you plan to hire employees.
  5. Obtain insurance: Depending on the nature of your business, you may need to obtain liability insurance, property insurance, workers' compensation insurance, or other types of insurance.
  6. Comply with employment laws: If you plan to hire employees, you must comply with all applicable employment laws, including minimum wage and hour laws, anti-discrimination laws, and workers' compensation laws.
  7. Comply with environmental laws: Depending on the nature of your business, you may need to comply with certain environmental laws and regulations, such as those related to waste disposal or air pollution.

It is important to note that this is a general overview of the legal requirements for starting a new business in New York, and that there may be additional requirements depending on the specific nature of your business. Additionally, some professions require specific certifications or licenses, such as doctors or lawyers, which would need to be obtained before starting the business.

To ensure compliance with all applicable laws, it is recommended that you consult with a licensed attorney or other qualified professional before starting your business.