New York, a tax-exempt alternative for non-US residents
US Limited Liability Company formation
US LLC’s with non-resident members and which conduct no business in the US and which have no US-source income are not subject to US federal income tax and are not required to file a US income tax return. US LLC’s are popular vehicles for conducting international business.
Key corporate features
General
- Type of entity – LLC
- Type of law – Common
- Shelf company availability – Yes
- Our time to establish a new company – 2 days
- Minimum government fees (excluding taxation) – Varies
- Corporate taxation – Fiscally transparent
- Double taxation treaty access – Normally, no
Share capital or equivalent
- Standard currency – Not applicable
- Permitted currencies – Not applicable
- Usual authorised – Not applicable
Directors or Managers
- Minimum number – One
- Local required – No
- Publicly accessible records – On formation
- Location of meetings – Anywhere
Members
- Minimum number – One
- Publicly accessible records – Varies by state
- Location of meetings – Anywhere
Company Secretary
- Required – Not applicable
- Local or qualified – Not applicable
Accounts
- Requirement to prepare – Yes
- Audit requirements – No
- Requirement to file accounts – No
- Publicly accessible accounts – No
Other
- Requirement to file annual return – Yes
- Change in domicile permitted – Within USA only
LLC information
Procedure to form
Language of legislation and corporate documents
Registered office required
Language of name
Shelf companies available
Name restrictions
Suffixes to denote corporation
Time to incorporate / form
Compliance
US federal taxation
State taxation
Financial statements
Directors/Managers
Shareholders/Members
Further details and features
Incorporation in New York is a fairly easy process but the number of legal issues to consider can make the execution of each stage in the process extremely complex. Every business owner should incorporate their business, since there are more advantages then drawbacks. Incorporating your company is certainly a good answer to protect yourself from those business lawsuits that come around so often.
Limited Liability Company (LLC)
Formation is more complex and formal than that of a general partnership. The owners are members, and the duration of the LLC is usually determined when the organization papers are filed. The time limit can be continued if desired by a vote of the members at the time of expiration.
10 Basics to set up a New York LLC
Minimum number of incorporators – One or more.
Eligibility requirements – None.
Duties – Delivering articles of incorporation to the Secretary of State for filing.
Listing requirements – The name and address of each incorporator.
Corporate purpose – New York allows a corporation to be formed for any lawful purpose(s).
Minimum number of Directors – One or more.
Eligibility requirements – The articles of incorporation or bylaws may list director qualifications. A director does not need to be a resident of this state or a shareholder of the corporation unless stated in the articles of incorporation or bylaws.
Listing requirements – When incorporating in New York, directors are not required to be listed in the Articles. Either the articles or the bylaws may specify the number of directors.
The articles must list the number of shares the corporation is authorized to issue, including certain information on classes and the par value of each share.
Main advantages to incorporate in New York
The main advantages of incorporating in New York are: lawsuit protection, credibility, tax savings, deductible employee benefits, anonymity, and the simplicity of raising capital. By creating a separate legal entity for personal protection purposes, a New York corporation has a broad range of powers beyond that of the standard sole proprietorship such as small claims court benefits, separate liability for corporate debts, and best of all perpetual duration. When you incorporate in New York you create a separate legal individual.
When you register business in New York you form a separate entity from the one or ones who own the corporation. Consequently, when a New York corporation is sued, there are provisions in the law which protects the owners (shareholders) and mangers (officers and directors) from all personal liability.
Forming an LLC (Limited Liability Company) in New York is simple. If you incorporate a New York LLC you will receive protection from personal liability for things like lawsuits ad other financial claims against the company. In an LLC, you do not issue stocks to raise funds, or revenue for capital investment. Instead, members are issued interest certificates that reflect the amount or share of their investment in the company. An LLC is run by the members, and the power vested in these members is determined by percentage of ownership. You can register an LLC by filing with the office of the Secretary of State. In most cases this process is simple, and takes as little as a couple of days to complete. It’s a good idea to consult with an attorney or other financial adviser before filing for this status. You may want to weigh the alternatives to determine which business structure meets the needs of your business, your customers and your partners.
TBA & Associates offers finest LLC set up services!
Register your Company today!
Our Business Development Team is ready to guide and assist you to discuss all options you have and to provide you with all the support you need to enable you to take the right decision facing your specific needs!
All our Consultancy and Advisory services are completely FREE!
Packages and Prices!
Inclusions
Year 1 Incorporation and service fees.
Optional Services (Bank Account opening, Nominee services, Certification of documents, amongst others).
Annual Renewal service fees for year 2 and subsequent years, to keep your company in good standing and full Compliant at all times.
Our company licensing services
— What we do and do not do
Our company is EXCLUSIVELY engaged in assisting worldwide clients, either individuals or corporate entities, to get duly and properly licensed with local Regulators and Financial Authorities to get respective official licenses to legally carry out their cryptocurrency or financial related business activities.
TBA & Associates Tax Business Advisors does not provide or carry out any sort of Cryptocurrency or Financial services!
Disclaimer: While TBA & Associates strives to make the information on this website as timely and accurate as possible, the information itself is for reference purposes only. You should not substitute the information provided in this article for competent legal advice. Feel free to contact TBA Customer Services for advice on your specific cases.
