Business

Forming an LLC in New York — Hispanic entrepreneur guide

Forming an LLC in New York: a $200 formation fee, the biennial statement, and the mandatory newspaper publication requirement that drives the real cost.

Flag: State of New York · Public domain · via Wikimedia Commons

Image: Beyond My Ken · CC BY-SA 4.0 · via Wikimedia Commons

Forming an LLC in New York

An LLC (Limited Liability Company) is the most common business structure for immigrants in New York.

Why New York

Huge consumer market — NYC + state = 20M people, 4th largest US GDP Large Hispanic community (19% state, ~38% NYC) Unique publication requirement — must publish the formation notice in 2 newspapers for 6 consecutive weeks. The county clerk designates which newspapers, and they set their own rates; the Department of State charges a $50 Certificate of Publication fee Accepts ITIN without restrictions Small business assistance via NY State BizExpress

Key facts

Item	Information
Formation fee	$200
Annual fee	$9 biennial Statement (every 2 years); New York also requires newspaper publication — the county clerk designates the newspapers and they set their own rates, and the Department of State charges a $50 Certificate of Publication fee
Deadline	Biennial Statement due every 2 years on anniversary ($9)
Accepts ITIN	✅ Yes
Requires Registered Agent	✅ Yes
Approval time	1-3 weeks

Formation process

Choose name unique ending in “LLC”
Designate Registered Agent with physical address in New York
File Articles of Organization ($200)
Create Operating Agreement (internal)
Get EIN from IRS (free)
Open business bank account

Official platform: New York Department of State (Division of Corporations)

Last verified: 2026-09-02.

State services and resources in New York

Where to register your LLC in New York

The New York Department of State, Division of Corporations, State Records and Uniform Commercial Code handles LLC registrations. Generally accepts filings:

Online (fastest)
By mail
In person, where the office offers it

The steps that are the same in every state — EIN, business bank account, annual report, estimated taxes, ITIN ownership and the common errors — are maintained once, on the LLC formation hub.

New York-specific resources

New York Department of State, Division of Corporations, State Records and Uniform Commercial Code — LLC filings and business search
New York State Department of Taxation and Finance — state business taxes
SCORE (Service Corps of Retired Executives) — free small business mentoring
SBA (Small Business Administration) — free counseling via SCORE and SBDC, open to everyone. ⚠️ SBA loans (7(a), 504, microloans) are closed to non-citizen owners since March/April 2026 — including green-card holders. See who can still use each SBA program and the CDFI lenders that do accept an ITIN.

Last verified: 2026-09-02.

General procedural information for educational purposes. Not legal, tax, or immigration advice. Laws and fees change — verify with the issuing agency before taking action. For case-specific guidance, consult a licensed immigration attorney or other appropriate professional.

ITIN — file business taxes without SSN — ITIN holders can form and operate LLCs
ITIN-friendly business banking — checking accounts that open without an SSN
USCIS forms — H-1B, L-1, E-2 investor visas — when LLC ownership supports a visa case
State income tax obligations — business taxes vary by state
Find an immigration attorney — for complex investor or work-visa cases tied to your LLC

Frequently asked questions

Do I need SSN to form an LLC in New York?

NO. You can form an LLC in New York using ITIN or just passport number. After, to open a bank account for the LLC, you’ll need EIN (free Federal Tax ID from IRS, NO SSN required) and possibly the holder’s ITIN.

How much does it cost to form an LLC in New York?

In New York, the LLC formation fee is $200. The annual fee listed on this page is $9 biennial Statement (every 2 years); New York also requires newspaper publication — the county clerk designates the newspapers and they set their own rates, and the Department of State charges a $50 Certificate of Publication fee. Other costs: a registered agent (free if you serve as your own agent with a New York address; otherwise a yearly commercial fee), an operating agreement (free if you draft it yourself), and any annual report or franchise fee. The EIN is free from the IRS.

Better to form LLC in New York or in Wyoming/Delaware?

If your business operates in New York, cheapest is forming LLC in New York. If you operate in another state but register the LLC in Wyoming/Delaware, you must register as ‘foreign LLC’ in your operating state — paying both fees. Wyoming/Delaware only makes sense for passive LLCs (rentals, investments, holding companies).

Does my New York LLC pay taxes?

By default, single-member LLC is ‘disregarded entity’ (taxes flow through to owner via Schedule C). Multi-member LLC treated as ‘partnership’ (Form 1065). You can elect S-Corp or C-Corp taxation via Form 2553/8832. Consult CPA with ITIN experience.

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General information, not legal advice. MigrantUSA is an independent publisher and is not a law firm; using this site does not create an attorney-client relationship, and this content is not a substitute for advice from a licensed attorney about your specific situation. US federal, state, and local government procedures, fees, and forms change. Always verify current details directly with the relevant agency before acting. For immigration, tax, or other legal matters specific to your situation, consult a licensed attorney or BIA-accredited representative.