In this video, I showed How to Start S-Corporation in NEW YORK Step by Step Online with full NEW YORK State Corporation Setup, formation & requirements process.
►Setup your Corporation with incfile (#ad): https://rebrand.ly/incfile2022
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Why Start an NYS Corporation? The state offers a range of business incentives, giving businesses in New York a competitive edge. Your corporation may be able to take advantage of these incentives, provided it meets qualifying criteria.
For example, the Excelsior Jobs Program provides tax credits to approved businesses that meet and maintain established job and investment thresholds outlined by the program. Companies may qualify for five fully refundable tax credits.
For most entrepreneurs looking to start a larger business, NYS incorporation may be the best choice. As a corporation, your business is able to buy and trade stock, and when it comes to excess profits, corporations offer more flexibility than a limited liability company (LLC). A corporation is allowed to pass income and losses to its shareholders, who report taxes on an individual tax return at ordinary levels.
Is an LLC Better Than a Corporation? It all depends on your goals. For smaller businesses, limited liability companies are usually a better option. An LLC are easier to set up and receive many of the same benefits as corporations, but with less regulation.
►Benefits of Forming a New York S Corporation:
-Options for creating, transferring and selling stock, though not as many as a C Corp
-The capacity for up to 100 shareholders
-Simpler rules than those that apply to C Corporations
-Easy transfer of ownership simply by selling your stock
-The possibility of saving money by allowing you to pay less self-employment tax
In this video, you’ll find information on naming your corporation, getting a Registered Agent, the fees you’ll need to pay, business taxes and much more. We also cover what you’ll need to register your corporation and how you’ll interact with the Department of State in New York.
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If you wanna share anything with us about this video or wanna ask any questions, make sure to comment below and we will get back to you as soon as we can.
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►How to Start a C Corporation in California: https://youtu.be/5cR4VGSVUlI
►Start & Setup a C-Corporation in Florida: https://youtu.be/MggxAVSE6V0
►How to Start & Setup an S-Corporation in Florida: https://youtu.be/spvldXIBnNw
►How to Start & Setup a S-Corporation in TEXAS: https://youtu.be/04V-Xt2wk2s
►How to Start & Setup A C-Corporation in Texas: https://youtu.be/k3fcxlaXmAQ
►Watch Again: https://youtu.be/de-mhQh5L0c
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Thanks for watching this video. Stay tuned for more upcoming business related videos like this.
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