QUESTION
Should I incorporate my Not for Profit in New York where live or in another state in order to save time on the process?
Asked on Sep 26th, 2016 on Business Law - New York
More details to this question:
I'm starting a business that could either be filed as a 501(c)(3) or a 501(c)(7) tax status and i'd like to start operating this fall. However, legalzoom doesn't work with not for profit filing in the state of New York due to the unique and lengthy approval process. Should i incorporate in another stat to save time and hassle? Will i be at risk of penalty for then primarily operating in New York state?
1 ANSWER
1 Award
You should incorporate where you operate. If you incorporate elsewhere, and then operate in NY, you are going to have to register as a foreign corporation doing business in NY, which is basically the same. The process is not that big a deal. It is an extra form.
Answered on Sep 30th, 2016 at 4:30 PM