Question
total cost to form an LLC in New York and Florida
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GPT-4o mini
The total cost to form an LLC can vary by state and may include several fees. Here’s a breakdown of typical costs associated with forming an LLC in New York and Florida:
### New York
1. **Filing Fee**: $200 for the Articles of Organization.
2. **Publication Requirement**: New York requires that within 120 days of formation, you must publish a notice in two newspapers for six consecutive weeks. Costs for publication can vary widely by county, often ranging from $500 to more than $1,500.
3. **Biennial Report Fee**: $9, required every two years.
4. **Operating Agreement**: While not required by law, it is advisable to have one, and you may choose to hire a lawyer (cost may vary, often $100-$500+).
5. **EIN (Employer Identification Number)**: Free if you get it directly from the IRS, but if you use a service, it could cost around $50-$100.
6. **Additional Costs**: Potential costs for legal or consulting services if you choose to hire professionals.
### Estimated Total for New York:
- Low end: $700 (basic filing and minimal publication costs)
- High end: $2,500 or more (including high publication and legal fees)
### Florida
1. **Filing Fee**: $125 for the Articles of Organization.
2. **Annual Report Fee**: $138.75, required annually.
3. **EIN (Employer Identification Number)**: Free if you obtain it directly from the IRS.
4. **Operating Agreement**: Recommended but not legally required; costs can vary if you hire a professional.
5. **Additional Costs**: Possible legal or consulting fees.
### Estimated Total for Florida:
- Low end: $125 (basic filing fee only, assuming no additional costs)
- High end: $500 or more (including annual report and potential legal fees)
### Conclusion
Overall, the costs of forming an LLC in New York are generally higher, primarily due to the publication requirement. In contrast, Florida has a more straightforward and less expensive process. Always check for any changes in fees or requirements and consider consulting with a professional for the most accurate guidance.
### New York
1. **Filing Fee**: $200 for the Articles of Organization.
2. **Publication Requirement**: New York requires that within 120 days of formation, you must publish a notice in two newspapers for six consecutive weeks. Costs for publication can vary widely by county, often ranging from $500 to more than $1,500.
3. **Biennial Report Fee**: $9, required every two years.
4. **Operating Agreement**: While not required by law, it is advisable to have one, and you may choose to hire a lawyer (cost may vary, often $100-$500+).
5. **EIN (Employer Identification Number)**: Free if you get it directly from the IRS, but if you use a service, it could cost around $50-$100.
6. **Additional Costs**: Potential costs for legal or consulting services if you choose to hire professionals.
### Estimated Total for New York:
- Low end: $700 (basic filing and minimal publication costs)
- High end: $2,500 or more (including high publication and legal fees)
### Florida
1. **Filing Fee**: $125 for the Articles of Organization.
2. **Annual Report Fee**: $138.75, required annually.
3. **EIN (Employer Identification Number)**: Free if you obtain it directly from the IRS.
4. **Operating Agreement**: Recommended but not legally required; costs can vary if you hire a professional.
5. **Additional Costs**: Possible legal or consulting fees.
### Estimated Total for Florida:
- Low end: $125 (basic filing fee only, assuming no additional costs)
- High end: $500 or more (including annual report and potential legal fees)
### Conclusion
Overall, the costs of forming an LLC in New York are generally higher, primarily due to the publication requirement. In contrast, Florida has a more straightforward and less expensive process. Always check for any changes in fees or requirements and consider consulting with a professional for the most accurate guidance.
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