Do you have the perfect name idea for a new business entity in the state of New York, but you’re not quite ready to form your company?
New York allows you to reserve a business name until you’re prepared for the business formation process, but how does the reservation process work and how long will the state reserve the name for you? In this guide, we’ll run down all the important details of reserving a business name in New York.
How to Reserve a Business Name in New York
The first step is to determine if your desired business name is even available in New York to begin with. To see if your desired business name is still available in the state, go to the Division of Corporations Business Entity Search and type in your business name. Once you’ve determined the availability of your desired name, you can begin the process of reserving it with the state.
Anyone who wishes to reserve a business name in New York must file the Application for Reservation of Name with the New York Department of State. This form requires the following information: New York Department of State Division of Corporations
One Commerce Plaza, 99 Washington Avenue
Albany, NY 12231
Once you have provided the information above, you will need to include a check for $20 made payable to the “Department of State.” Then, you can send the form and the check to this address:
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How Long Is My Business Name Reserved For?
The Application for Reservation of Name will reserve your business name for a period of 60 days. If you still require more time to file your formation paperwork with the state, you can extend your name reservation for two additional 60-day periods. To do this, you will need to file the Request for Extension of Reservation of Name and pay another $20 filing fee (for each 60-day period).
Conclusion
Just because you aren’t ready to form your New York business entity doesn’t mean you can’t lock down your desired business name.
It is extremely simple to reserve a name in New York, as the Application for Reservation of Name does not require a lot of information. Additionally, if you need more time to form your business, the state of New York makes it easy to extend your name reservation.