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New Business Formations – LLCs, Corporations & Partnerships

From the first expression of intention to form a new business, the firm assists our clients with the initial determination whether the new business should be formed as a Corporation or a Limited Liability Company (LLC). We then check on business name availability and complete the registration of the new entity with the office of the New York State (or Delaware or other) Secretary of State. For LLCs operating in the State of New York, we arrange for all publication requirements in accordance with NY’s unique law on that subject.

We also assist with the qualification of “foreign” LLCs or Corporations that originally were formed outside of New York State, but intend to conduct business within New York.

For both LLCs and Corporations, the firm prepares LLC Operating Agreements or Shareholder Agreements for the business owners, as well as Partnership Agreements for clients who have a need for more traditional forms of business partnership.

Since the beginning of 2024, we have been advising our clients on the mandatory filing of Beneficial Owner Information (BOI) reports under the federal Corporate Transparency Act (CTA), helping them avoid the stiff fines and penalties that the law would impose for non-compliance.

LLC Operating Agreements and Shareholders Agreements provide critical guidelines for corporate governance between and among partners, as well as for those circumstances in which a partner desires to withdraw from the business, or admit a new partner, or sell his or her interest. Such agreements also provide protocols for what happens in case of long-term incapacity, divorce or death of an owner. New York state law requires that every LLC have an LLC Operating Agreement, created within 90 days of the establishment of the new entity.