Starting a new business in New York involves several steps. The articles of incorporation are essential as they formally mark the birth of your corporation under state law. When you draft your articles of incorporation, you set the foundation for your business corporation, establishing its legal structure and identity.
Understanding what to include in this document ensures you comply with New York regulations and helps streamline the business formation process.
Key components of articles of incorporation
Your articles of incorporation must contain several key pieces of information to meet New York State’s legal requirements.
- Business name: Your corporation’s name must be unique and adhere to New York’s naming conventions.
- Business address: Specify the county in New York where your corporation will operate.
- Share structure: Define how many shares your corporation is authorized to issue. This detail is crucial for your funding and ownership setup.
It is also important to list the incorporator who files your articles and a registered agent who will handle official documents.
Submitting your articles of incorporation
Once you have prepared your articles of incorporation, you must file them with the New York Department of State. There is a fee, which depends on your corporation’s share structure.
After filing, the state reviews your articles of incorporation to ensure they meet all statutory requirements. Once approved, your business is legally recognized as a corporation in New York, enabling you to move forward with other aspects of forming your business such as obtaining business licenses and opening bank accounts.
Setting up your articles of incorporation correctly is crucial for a smooth start to your business. Ensure you meet all New York legal requirements to establish a solid foundation for your new business corporation and stay informed about the latest regulations as your business grows.
