Facts on Incorporating in New York:

• Officers are not required to be listed in the articles of incorporation
• Annual Statements must be filed
• Each domestic corporation and foreign corporation authorized to do business in New York must file a biannual statement of addresses and directors
• Personal liability is limited, for shareholders
• The lifespan of the business is perpetual; or for a designated period stipulated in the Certificate of Incorporation
• For purposes of taxation, a corporation pays state franchise taxes and taxes on income; shareholders pay taxes on income distributed as dividends (a limited exception exists for Subchapter S Corporations)
• An increase in the shares of stock may cause an increase in the initial filing fee

Corporate Name Ending

Your corporate name must include a word or an abbreviation of a word that indicates that the named entity is a corporation or LLC. Examples of a corporate name ending include: Incorporated, Corporation, LLC, Company, or the appropriate abbreviation there of.

Corporation Requirements

Director Information
A corporation is required to have three or more directors unless the corporation only has one or two shareholders. They are not required to live in the State of New York. They are required to be 18 years of age or older. Also, directors are required to be listed in the articles of incorporation.

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