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Every two years, each domestic or foreign corporation or limited liability company registered with the New York State Department of State must file an informational Biennial Statement and pay a $9 fee. Often, corporations and limited liability companies will become aware of this filing requirement through a third-party notice offering to file the Biennial Statement on behalf of the company, or through an email sent to the company directly from the department.
In the Biennial Statement for corporations, the entity must update and disclose:
1. The name and business address of its chief executive officer
2. The street address of its principal executive office
3. The address to which the New York Secretary of State shall forward copies of process accepted on the corporation’s behalf
The Biennial Statement for limited liability companies requires just the address for forwarding copies of process accepted on the entity’s behalf.
What does CohnReznick think?
Many of our clients receive third-party notices to outsource the requirement of filing this form with the state. These third-party companies generally charge a fee for completing the form. It is highly recommended that instead of incurring the cost of utilizing a third party, affected entities visit the department’s online website and file their Biennial Statement directly with the state. The online process is relatively simple and more cost-effective than engaging a third party. More information related to the Biennial Statement, including links to e-file and access the company’s DOS number, can be found on the State’s website.Contact
Corey L. Rosenthal, JD, Principal, Practice Leader, State and Local Tax Services
646.625.5729
Arvinder Kaur, CPA, Senior Manager, State and Local Tax Services
646.448.5466
Corey Rosenthal
JD, Principal, Practice Leader, State and Local Tax (SALT) Services
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Any advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues. Nor is it sufficient to avoid tax-related penalties. This has been prepared for information purposes and general guidance only and does not constitute legal or professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice specific to, among other things, your individual facts, circumstances and jurisdiction. No representation or warranty (express or implied) is made as to the accuracy or completeness of the information contained in this publication, and CohnReznick LLP, its partners, employees and agents accept no liability, and disclaim all responsibility, for the consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.