New York is one of the great financial capitals of the world, while the state economy is also enjoying thriving agriculture, hi-tech, and communications segments.
The tourist appeal of New York City combined with the lifestyle of New Yorkers attracts many entrepreneurs annually, while the business advantages to be gained by incorporating in the state can be considerable.

New York Business Taxes

Personal Income Tax
The New York Individual income tax rates range from 4% to 8.82%.

Corporation Tax
The NY corporate income tax rate is 7.1%.

 

Unique Features About Incorporating in New York

 

  • Incorporating in New York is fast if you use expedited service. The 24-hour expedited service is well worth the $25.00 fee.
  • Extensive list of restricted or forbidden words. Make sure to have an expert screen your name to see if there is some potential problem
    that will cause delay (for example, the word “exchange” is restricted and needs the consent of the Attorney General).
  • Extensive list of corporate purposes for which other states must give consent prior to filing by the Secretary of State.
    This includes the cumbersome and needless process by which professional corporations and professional limited liability companies
    are formed.
  • New York does not require a registered agent. The Secretary of State is your agent for service of process; you only need to give a postal address that the Secretary of State can use to mail any process served against you. However, you are allowed to have
    a registered agent, and if you are located outside the United States, you will need an agent to accept service of process for you
    inside the United States.
  • Every New York LLC, limited partnership, professional limited liability company and registered limited liability partnership
    must publish notice of formation in two newspapers in the county where the office is located for six consecutive weeks then file
    the affidavits of publication with the Secretary of State within 120 days.

 

  • Modern and efficient multilingual banking & financial services sector;
  • Excellent air and sea connections and telecommunications services;
  • Professional, reputable and efficient Government and Tax Authorities;
  • A mature professional services sector;
  • Very low expense level (fees) for financial and professional service provision compared to other Jurisdictions. The difference is more evident in the case of professional service recurring costs (administration, accounting & tax compliance) are estimated to be at 35- 40% of Western European rates.