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Glossary

Annual Reports are corporate filings with the Secretary of State on the anniversary of your LLC filing. There is a recurring fee paid every year with the Annual report. Each State has different dates for when this Annual Report is due annually, and all companies are encouraged to plan accordingly.th a street address in your business’s state of filing that is designated to receive legal communications and documents for your business entity such as subpoenas, service of process, tax notices, etc. 

An Employee Identification Number (EIN) is a Tax Identification Number that the IRS will use to identify your Company when you file taxes. You need this number to open up business bank accounts as well.

The State Filing fees are required to actually file your incorporation documents with the State. This is a one-time fee.

Limited legal representation is for a limited scope and time that a client would engage an attorney

An LLC Operating Agreement is technically a summary of how your LLC will operate. It includes sections on voting, legal representatives, successors etc. To open a business bank account, some banks require this document.

This is a requirement that anyone filing a NY LLC must also “publish” a notice that the LLC has been formed, in two (2) separate publications. These notices have to run for 6 weeks within your county that you filed your company.

A Registered Agent is a business or individual with a street address in your business’s state of filing that is designated to receive legal communications and documents for your business entity such as subpoenas, service of process, tax notices, etc.