What Do I Need to Start Up a Small Business in New York?
A new business is a risky venture that requires resolve, determination and commitment. If you are ready to see your dream come true of bringing your goods or services to the marketplace, careful planning is required. The City of New York welcomes new business start-ups and offers a wealth of information, training and guidance.
Other People Are Reading
-
Licenses & Permits
-
New York City offers interactive tools, classes and mentoring services to help you create a plan and navigate through regulations, certifications, professional and occupational licenses and permits required to open a new venture in the city. Many license and permit applications are available online.
Business.gov, the official link to the United States government, also has references, resources and helpful tools to aid in planning and securing licenses and permits for new businesses. Enter the zip code of your New York City business location for a review of all licenses required by the city.
.
Borough Rules & Regulations
-
Each of the five New York City boroughs has different requirements. At minimum, you'll need a business license and tax permit. Some jurisdictions may require a trader's license or a tax certificate prior to opening your business. Apply for building permits, health permits, occupational permits and signage and zoning permits by contacting the New York City Department of Economic Development.
If you are opening a business in the Borough of Queens, the Queens Chamber of Commerce offers workshops, resources, links and advice to assist new ventures. Register your new business with the Chamber of Commerce to be included in its directory.
-
Taxes
-
Contact the New York City Department of Revenue to determine the city taxes that will apply to your product or services.
Visit IRS.gov, the U.S. Department of Revenue's online interactive website, to apply for an employer identification number.
Contact the New York State Department of Taxation and Finance to determine which state taxes will apply to your business. State income tax, sales tax, withholding taxes, property taxes and corporation taxes may be required. As a New York business owner, it is your responsibility to know and understand your tax obligations.
Name Registration
-
Contact the New York State Department of State, Division of Corporations to determine if your new business name is available. If you plan to incorporate your business, request the department's brochure "Forming a Business Corporation in New York." Incorporation application forms may be obtained from the website.
Legal Counsel
-
The New York Small Business Resource Center offers free legal counseling, information and loan referrals for women and minority new-business owners as well as New York business rules and regulations and interactive training classes. Visit their website to access a wealth of materials you will need to get your New York City small business up and running.
-
References
- SCORE: Counselors to America's Small Business
- New York City Government: Business Centers
- Ameerican Institue of Certified Public Accountants: Welcome
- Small Biz: NYC Small Business Resource Center
- NY State Department of Taxation & Finance: Start or buy a business
- State of New York: Division of Corporations, State Records and Uniform Commercial Code
Resources
- Photo Credit New York state contour against blurred USA flag image by Stasys Eidiejus from Fotolia.com
