A New York Registered Agent is a statutory requirement for compliance when starting a business regardless of the legal structure formed. More importantly, a Registered Agent is a vital entity in the smooth operations of a business.
Unlike other states that require entrepreneurs to hire a separate Registered Agent, New York does not. Instead, every entity registering to do business in the state is required to appoint the Secretary of State as the Registered Agent. However, the state does not prohibit that you hire an additional Registered Agent, which is also a sound decision to ensure that all time-sensitive documents are received and acknowledged.
As there are several requirements and restrictions in hiring a Registered Agent, Startup Savant has come up with a simple guide to help you sort out all these. Also, this guide points out the importance of hiring a Registered Agent in New York separate of the Secretary of State.
As the primary Registered Agent in New York is the Secretary of State, it is required of you upon filing of the Certificate of Incorporation to provide a postal address where the service of process will be mailed at the start of your operations. This address can either be inside or outside the state of New York.
While it is not required to hire a Registered Agent in the state, think about the ramifications in case there are some important documents that may be overlooked. Remember, it is not only the service of process notice that you will be receiving from the state, but also any legal notification that includes tax notices, state correspondence, and more. This is where your commissioned Registered Agent becomes valuable.
There are no statutory requirements to hiring a New York Registered Agent, but it would be ideal if that entity is a registered resident of New York or another business entity that is duly registered with the state to operate.
Then, the Registered Agent must also provide a physical street address on which the legal documents will be forwarded. The Registered Agent must also be in the premises of the provided physical address during office hours to ensure that all legal notifications are received and properly documented.
As discussed above, the importance of taking care of time-sensitive and crucial legal notifications is a contributing factor to compliance requirements, but there are many other reasons why there is a need to hire a Registered Agent.
Legal notifications come in various forms and types. Aside from the service of process, your business also receives state correspondence, tax updates and notices, business requests, etc. Now, all of these documents usually need immediate attention as these are time sensitive.
When an instance occurs that you overlook it when the Secretary of State mailed it to the address you provided, you will be held liable for any delay in its compliance or correspondence. When this happens, you can face possible penalties and even legal repercussions.
However, if you have a Registered Agent who receives and sorts out all these notifications, you won’t have to worry whether you have missed any due date or document. It will be up to the Registered Agent to notify you of it immediately so you can process it at a timely manner.
Your professional image speaks volumes about your entire business. When a service of process is delivered in your address, it cannot be avoided that there may be some customers or clients. When this happens, it can cast some doubts on your reputation as a reliable business.
Whereas when you have a New York Registered Agent, you won’t have any fear that this incident will occur within your business establishment.
Because you have a Registered Agent where all legal documents are forwarded, you do not have to worry about not being able to receive these notices even if you change business address. You are still assured that everything is taken care of.
At the end of the day, hiring a reliable and efficient Registered Agent can be a great contributing factor to the long-term success of your business so it is better to hire your own agent.
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