Business

Forming an LLC in New York — Hispanic entrepreneur guide

How to form an LLC in New York: formation fee ($200), annual fee ($25 biennial Statement (every 2 years) — but mandatory publication requirement: $1,500-$2,500 in major cities (NYC) or $200-$500 (upstate)), step-by-step process, and state comparison.

Flag: State of New York · Public domain · 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 formation notice in 2 newspapers for 6 consecutive weeks. Expensive in NYC ($1,500-$2,500), cheap upstate Accepts ITIN without restrictions Small business assistance via NY State BizExpress

Key facts

Item	Information
Formation fee	$200
Annual fee	$25 biennial Statement (every 2 years) — but mandatory publication requirement: $1,500-$2,500 in major cities (NYC) or $200-$500 (upstate)
Deadline	Biennial Statement due every 2 years on anniversary ($25)
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: 2026-05-24.

State services and resources in New York

Where to register your LLC in New York

The Secretary of State office (or equivalent) of New York handles LLC registrations. Generally accepts filings:

Online (fastest, 1-3 days)
By mail (4-8 weeks)
In person (varies by state capital)

Post-formation requirements

EIN from IRS (free, online, ~15 minutes)
Business bank account — most require LLC docs + EIN
State/local licenses depending on business type
Annual Report yearly (keeps LLC active)
Quarterly tax estimates if income > $1,000/quarter

LLC for immigrants with ITIN

Permitted: ITIN holders can be LLC members
Banking: business accounts with ITIN available (BlueVine, Mercury, Lili — verify policies)
Tax filing: Schedule C on your 1040 with ITIN; Form 1065 for multi-member LLC

Common errors

Forgetting annual report (can dissolve LLC)
Mixing personal and LLC finances (loses limited liability protection)
No Operating Agreement (even single-member)
Operating in another state without registering as foreign LLC

New York-specific resources

New York Secretary of State — LLC search + filings
New York Department of Revenue — state business taxes
SCORE (Service Corps of Retired Executives) — free small business mentoring
SBA (Small Business Administration) — resources and financing

Last verified: 2026-05-25.

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?

Costs vary: state filing fee $50-$500, registered agent $0-$300/year (self-RA if you have New York address), LLC operating agreement $0-$200, EIN FREE via IRS, annual report fees $20-$300/year depending on state.

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.

The rules change. Hear about it first.

Monthly digest of USCIS, IRS, and consulate fee, form, and deadline changes — no spam.

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.