Forming A New York Corporation Quickly
Need to hit the ground running on your new business in New York
? Even though incorporating typically takes a week or two, there are a few tricks that the savvy business entrepreneur can use to speed up the incorporation process--perhaps to even a few hours.
Tip #1: Consider Do-it-yourself
Here's an irony: You'll very probably increase the time it takes to incorporate if you work through a third party. In other words, if rather than filling out and filing the paperwork yourself, you collaborate with an attorney or with a paralegal service (including one of the online incorporation services), you'll probably only delay your incorporation.
The delay comes from a couple of factors: First, the third party needs to have time to schedule and then prepare the documents required for New York incorporation. And that creates delay. But there's second reason for delay, too--working with a third party automatically increases the paperwork you need to prepare. Automatically, in other words, working with a third-party means you've got another person to pay, another contract to sign, more stuff to read through, and so on.
In comparison, if you take a do-it-yourself approach, you cut out the extra paperwork and the extra processing time (including the waiting around for the attorney or paralegal service to start).
A final note: The process for incorporating a business in New York is simpler than you might think. The Secretary of State's website provides simple, free, pre-printed forms you can use (just fill in the blanks!).
Though the exact URL for these forms often changes, you can use a search engine like Google to find the website. A search term like "new york secretary of state division of corporations" should bring you to the site.
By the way, in New York state it typically takes about seven days to process a paper filing, not including mailing time.
Tip #2: Electronically Submit Articles of Incorporation
While you can mail, fax or hand-deliver the articles of incorporation, you can typically use another optional technique to shave time off the filing process. New York allows you to file the articles of incorporation online. The online process collects the same information that the pre-printed paper form does--only using web pages. The current website address of the state's online incorporation is www.nys-opal.com.
Tip: In order to use the New York online incorporation service, your web browser needs to support JavaScript and allow for pop-up messages and dialog boxes.
Tip #3: Pay for Expedited Processing
A final option for speeding up the incorporation process is to pay for expedited processing. New York allows you to pay an extra fee for faster service, the amount of which is determined by your need for speed.
For just $25, your documents will be processed within 24 hours (provided that your request is made during normal office hours--between 8 am and 4 pm Monday through Friday).
For $75 your documents will be processed the same day if you make your request by noon, either in person or by fax.
If, perhaps, you wish to be the Usain Bolt of New York small business corporate document filers, you can pay $150 for super-expedited, two-hour processing (but you need to make your request by 2:30 pm on a business day).
by: Stephen Nelson
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