A Single-Member Limited Liability Company (LLC) is a type of business entity where only one person holds complete ownership of the business. It's a popular structure choice for small businesses due to its flexibility, privacy, and liability protections.
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If you're thinking of forming a Single-Member LLC in New York, here are the basic steps you need to take:
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Step 1: Choose a Name for Your LLC
To start, you need to choose a name for your LLC. The name you choose must meet certain criteria, such as being unique and not similar to any other LLC names in the New York state records. Make sure to do your research and check the availability of your chosen name with the New York State Division of Corporations.