Northeast New York is in the top three in terms of GDP.
New York City has the highest concentration of residents from the same state, and it is one of the most densely populated cities in the world, which is also the capital of business, finance, economics, culture and media. The state capital is Albany. New York is bordered by the states of Pennsylvania, Connecticut, Vermont, Massachusetts, New Jersey, the Canadian provinces of Quebec and Ontario.
After English, the most common language is Spanish, then Chinese, Russian and Italian.
In what areas of business is it best to register a company in New York?
In the media, film production annually provides $420 million in tax benefits. Leading industries are: a finance, a steelmaking, a production of jewelry and diamonds from imported diamonds, IT, a support, a consulting, financial services, a food production, electronics. Another promising area is to start a business in bioengineering and biotechnology in the USA, to establish the production of medical and optical equipment (Kodak), to set up own projects in the field of nanotechnology in New York (Albany University).
An engineering, the production of railway equipment, a tailoring, an education, a tourism (visiting Broadway, Niagara) are developed. In the mining industry receive table salt, lime, zinc, sand, stone. In the agricultural sector, the state ranks fifth in the United States.
A tax sector
- New York state sales tax is 8,49%;
- A personal income tax (deductions from wages) is 8,82%;
- A corporate tax 6,50%;
- A federal tax 21%;
- Dividends are 35%;
Despite the rather high total tax burden, if you decide to register an enterprise in New York, then almost all expenses associated with the business can be documented in the accounting reports - and thus neither the founders nor the staff pay personally for gasoline, meals, accommodation abroad jurisdictions etc. This applies to any legal form of the company: LLC, FZ LLC, S/C-Corp, LLP, SP, RO, PLS.
Requirements for investors, wishing to establish an American commercial firm in New York:
- A company can be established by at least 1 shareholder and 1 director of any nationality (their number is unlimited);
- A share capital is not limited;
- It is required to obtain a license in America;
- Next, you must submit information about the founders in the open registry;
- Tax reporting is a prerequisite, just like the need to open a corporate account with the American bank.
Subject to these requirements, as well as upon timely submission of a package of documents on founders, it is possible to register a company in the USA remotely - within 2 weeks.
If you decide to establish a company in New York and you still have any questions related to the registration of a company in America, YB Case specialists will provide you with legal advice and full legal support.
The choice of a bank to open a corporate account in New York - the world financial center - is very wide: Bank of America, Banesco, Citigroup, Goldman Sachs, Morgan Stanley, Barclays, Bank of New York Mellon, Credit Suisse Holdings, American Express Company, New York Community Bancorp, Signature Bank, NY, Mizuho Americas, Citibank, others.