Starting a Business in New York
LLC filing: $200 | Corp filing: $125 | Business-friendly score: 5.5/10
Business Environment at a Glance
5.5/10
Business-Friendly Score
4% - 10.9%
Income Tax
4%
State Sales Tax
$16.00
Minimum Wage
Business Filing Fees in New York
| Item | Cost | Details |
|---|---|---|
| LLC Filing Fee | $200 | One-time, filed with Secretary of State |
| LLC Annual Fee | $25 | Due annually to maintain good standing |
| Corporation Filing Fee | $125 | One-time, Articles of Incorporation |
| Corporation Annual Fee | $25 | Annual report/franchise tax |
Tax Rates
| State Income Tax | 4% - 10.9% |
| Corporate Tax Rate | 6.5% - 7.25% |
| State Sales Tax | 4% |
| Max Local Sales Tax | 4.875% |
| Minimum Wage | $16.00/hr |
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New York Special Requirements
- All employers must carry workers' compensation and disability insurance
- NYC requires separate city business license for certain industries
- Liquor licenses issued by NY State Liquor Authority (limited availability)
Major Cities in New York
Browse Industries in New York
Start Your Business in New York
The state filing fee for an LLC in New York is $200. Licenses, insurance, equipment and rent usually cost far more: see the full picture for your business type and city.
Estimate your startup costs