Send Via Text Massage Legal New York Startup For Sole Proprietorship Forms For Free

A sole proprietorship is one of the simplest forms of businesses that you can start. It is a type of unincorporated entity and you can start a sole proprietorship in New York without having to register with the Division of Corporations, NY State Department.

An LLC exists separately from its owners?known as members. However, members are not personally responsible for business debts and liabilities. Instead, the LLC is responsible. A sole proprietorship is an unincorporated business owned and run by one person.

There is no form to file to start a Sole Proprietorship. Simply by engaging in activities with the goal of making money, you are operating as a Sole Proprietor. However, if you'd like to do business under a name besides your first and last name, you'll need to register a DBA (Doing Business As) Name.

It's important to consider both the advantages and disadvantages of sole proprietorships. The biggest drawback is unlimited liability for a business owner, who can be held personally responsible for the obligations of the business. Also, if you hire employees, you'll be personally liable for their actions.

New York requires all businesses operating under a business name to register as a legal entity to operate a business. Limited liability companies (LLCs) and corporations must register with the state.

If you don't want to spend the time and money involved in forming and running your business as a corporation, you can easily set it up as a ?sole proprietorship,? provided you are the only owner. You don't need to file many legal documents or to establish a separate tax paying identity in order to start the business.