Business Corporation Law

New York Department of State Streamlines Benefit Corporation Formation

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.

New York Benefit Corporations and How to Form Them

Business owners typically incorporate because their lawyer or accountant told them to. There is a relatively new reason to consider as well. You may want your business to become a "benefit corporation" so that it not only receives tax benefits and legal protections, but also to hold your business to a higher standard. New York State started letting businesses register as benefit corporations in 2012 so that they can focus on their triple bottom lines of profit, people, and planet.