It is now easier and faster to create a benefit corporation in New York State. In addition to adding information about benefit corporations to its website, the NYS Department of State now allows you to form a benefit corporation online. This new process will reduce the time needed to get a benefit corporation up and running in New York.
Benefit corporations are for-profit businesses that are also required to pursue public benefits. These types of companies must pursue a general public benefit--a material positive impact on society and the environment--and may pursue a number of specific public benefits.
Before the process change, only traditional business corporations and limited liability companies could be created online. Individuals who wanted to form benefit corporations had to either mail or fax in the company's certificate of incorporation and then wait for confirmation that the business had been formed. Now, it is likely you will receive same-day confirmation that your benefit corporation has been formed, saving both paperwork and time.