How to Create a Series LLC in New York

What Is a Series LLC?

A Series LLC is a unique form of a limited liability company that allows for the creation of multiple, distinct series within a single LLC. Each series operates independently, with its own assets, liabilities, and members. This structure allows for the segregation of assets and liabilities, providing liability protection between series. The parent LLC, often referred to as the "master LLC," oversees the individual series, which can operate independently in terms of business activities and financial obligations.

Does New York Allow Series LLCs?

As of the current date, New York does not authorize the formation of Series LLCs under its state laws. The New York Limited Liability Company Law does not include provisions for the creation of Series LLCs, unlike some other states such as Delaware or Illinois. Therefore, businesses seeking to form a Series LLC must consider forming in a state that permits such entities and then register as a foreign LLC in New York if they wish to conduct business there.

New York Series LLC Filing Fees and Costs

While New York does not permit Series LLCs, in states that do, fees typically include:

• Formation Fees: Vary by state, often around $100-$500 for the parent LLC.
• Series Fees: Additional fees may apply for each series.

Additional Resources

• New York Department of State - Division of Corporations
• New York State Department of Taxation and Finance
• New York Online Filing System

This article provides general information about New York LLC formation requirements under New York State Law. It is not intended as legal advice. Persons forming an LLC should consult with a private attorney regarding their specific circumstances.