Step-by-step guide to forming a S-Corp in New York. Filing fee ($125), requirements, timeline, taxes, and what international founders need to know.
Financial Capital of the World
Step-by-step process for international founders.
Form a C-Corp or LLC first
File Form 2553 (S-Corp election) with IRS
Meet all eligibility requirements
Set up payroll for owner salary
File annual Form 1120-S
File annual report / pay annual fees in New York
Annual fee: $9. Due: Biennial
| Cost Item | Amount | Notes |
|---|---|---|
| State filing fee | $125 | One-time, paid to New York SOS |
| Registered agent (Year 1) | $50–$150/yr | Required in New York |
| Annual report / renewal | $9/yr | Due: Biennial |
| EIN (Federal Tax ID) | Free | Apply via IRS Form SS-4 |
| Operating Agreement / Bylaws | $0–$500 | DIY or attorney-drafted |
| Business bank account | $0 | Mercury or Relay recommended |
| Total Year 1 (estimated) | $234–$784 | Varies with registered agent choice |
Pass-through (but owners pay salary + save on SE tax)
IRS Form: Form 1120-S + Schedule K-1
Yes (4–10.9%)
Franchise tax: Yes
Yes. New York allows non-US residents to form a S-Corp entirely remotely. You need a registered agent with a New York address, and you'll apply for an EIN from the IRS using Form SS-4.
No. You can form a New York S-Corp from anywhere in the world. However, you must maintain a registered agent with a physical New York address.
Standard processing: 3–10 days. Expedited processing is available for an additional fee through the New York Secretary of State.
Mercury and Relay are the top choices for international founders. Both open accounts fully online, require no US visit, and work well with New York entities.