On this page, you’ll learn about the following:
New York Registered Agent Requirements
There are certain requirements to fill the role of a New York registered agent:
- The nominee must be more than 18 years old.
- The individual must have a legal, physical address in the state where the LLC will operate.
- The individual must be physically present during normal working hours.
How to Choose a Registered Agent?
When you file your Certification of Formation in New York, you must nominate a registered agent. You can either appoint an in-house registered agent (yourself or any LLC member) or outsource to a New York registered agent service. You can elect your registered agent online through the New York Secretary of State website.
Hiring an Inhouse Registered Agent
When hiring an in-house registered agent, make sure the individual is over 18 of age and lives in New York.
Can I be My Own Registered Agent?
Yes, you can be your own registered agent. So long as you meet the basic requirements for a registered agent, then you can take on this role for your LLC.
Outsourcing a Registered Agent
You may, instead, get professional registered agent services. Doing so ensures that you will have the best individual to represent your business. Here are the best LLC services on our list that will provide you with registered agents to ease your worries.
Note that availing of the services of professional registered agents would be your best option since you are guaranteed that whoever is handling your legal affairs knows their stuff well. You will enjoy peace of mind and focus only on running your business, as the ‘professionals’ take care of all legal matters.
What to Consider When Choosing a Registered Agent
Here are some factors to consider when choosing a registered agent.
- Service Fee: Since most states require formal businesses to have registered agents, selecting the best-registered agent is critical. Hiring a registered agent service typically costs between $50 and $300 annually. When you consider how much time it will save you, this is a small price to pay.
- Tenure in Business of Registered Agent: You want the registered agent to have established and time-tested procedures for handling documents that are received.
- State Jurisdiction Limitation: If your company expands to another state, you should use the same registered agent in all states to reduce the administrative burden of dealing with multiple registered agent service providers.
- Offer Monitoring and Follow-up Services: You want to receive up-to-date information and alerts from your registered agent as soon as possible so that you are aware of the various statutes, rules, and regulations that apply to your company.
New York Registered Agent and Business Laws
The registered agents of New York are responsible for addressing all legal aspects and issues that are related to New York LLC law. Each state has its own business laws. New York is not an exception. Every state is governed by its own unique business laws. These are the top business regulations that every business must comply with.
- Interest Rate Laws: Every state has its own laws on interest for businesses. The general guidelines don’t define a minimum interest rate. It’s not surprising that companies are more likely to agree to higher interest rates. New York has interest rates that are 16% when written. It is the general rate of interest. The rate of interest on judgment is 9%.
New York has a Usury Law. This law has higher interest rates for advances and loans. The law decides on the interest rate. Borrowers can recover the entire amount of excess if violating this law. Also, the interest amount will be forfeited and can recover twice the interest amount paid.
- Antitrust Law: The general purpose of antitrust laws is to find cartel formations in any market. A cartel is the combination of rivals with a disproportionate influence over the supply or price. Cartels in all markets are illegal. New York has the same Antitrust Laws that apply to other states.
The law of New York states that you can bring an action in this regard within four years. The law also grants plaintiffs the right to recover attorney fees as well as other damages.
- Deceptive Trade Practices Laws: New York has the Deceptive Trade Practice Law. However, it has penalties for trading and deceptive acts. The case can be filed by any attorney general. Plaintiffs can recover attorney’s fees, and triple the actual damage or $1000 whatever is more.
- Civil Statute of Limitation Laws: The Civil Statute of Limitations Laws in New York is like the laws in other states. If you are found guilty, the law provides for jail time and heavy fines. There is a time limit to the time you can file suit. Other actions and sanctions can be enforced if you fail to make a claim within the deadline. Up to 10 years of the time limit is given to plaintiffs in order to bring the claim. The judgement can take up to 20 years.
Agents who are registered handle these cases and laws. New York has registered agents that can assist you in navigating these laws.
How to Remove a Registered Agent for LLC in New York
A registered agent for LLC in New York can be removed by filing a Certificate of Change with the New York Secretary of State by paying a filing fee of $5.
When forming a limited liability company, you need to designate a registered agent. If you’ve chosen an employee or a former co-owner to act as the registered agent, you may want to replace him or her. Or, maybe you’ve decided to expand your business, and it’s just too difficult to take on the responsibility of being the company’s registered agent. In either case, you should learn how to remove a registered agent from your LLC in New York.
The first step in changing your registered agent is to update the company’s records with the New York Department of State. To update your company’s records, submit a completed LLC Certificate of Change form. The state will update your records within a few days. To search for an agent, you can use the state’s business database, or request information from the Secretary of State. You must be sure to notify the department of your change as soon as possible.
To change your registered agent in New York, you need to pay a fee of $5. Make the check payable to “Department of State” and use a “Certificate of Change” form to show the change. You can also choose to update your Biennial Statement and Articles of Organization. But, these are not the recommended methods for changing your registered agent. In addition, you may want to hire a company or an individual to do this work for you. This will save you time and stress in the long run.
A registered agent is the trusted point of contact for your company when it comes to receiving important documents and communications from the state. New York businesses do not choose their own registered agent, but rather use the Department of State’s Division of Corporations or the Secretary of State. In either case, the department of state acts as default registered agent and handles all correspondence. If you don’t choose an agent for your business, you may want to change it later.
If you’re thinking of changing your registered agent, it is important to understand the regulations. First, you need to know that New York has several registered agent offices. Changing them to a more inexpensive county is possible. By doing this, you can save hundreds of dollars. This way, you can avoid paying high fees for publishing notices. However, you should know that the amount of savings will depend on the county you choose as your registered agent.
If you’re thinking of changing the registered agent for your LLC, make sure to notify the state of the change. There are some restrictions when it comes to LLC names, so it’s always better to consult a business entity database for guidance. Once you’ve chosen the new name and registered agent, you need to notify the state of the change. You can also make the change to the responsible party in the event that you decide to change your registered agent.
All corporations and limited liability companies doing business in New York are required by state law to appoint a New York registered agent. New York registered agents provide a reliable way for the Secretary of State and state courts to contact a corporation or LLC.
A registered agent is simply a person or entity appointed to accept service of process and official mail on your company’s behalf who lives in the state of service and is over 18.
If you intend to be your own registered agent, you may be forced to use your home address (especially if you run a home-based or web-based business), making the address public.
Before you choose a registered agent for your New York LLC, compare their price and services from the table. They will be responsible for all your documentations, filings, and other LLC-related tasks. Hence, choose the best one for your business that provides 100% accurate service at a reasonable price.