At some point, every business may need to obtain a Certificate of Good Standing. Whether you are an LLC, Corporation, or another business type you may need the document to demonstrate that you are registered in the state and authorized to conduct business there. Fortunately, obtaining a New York Certificate of Good Standing is a fairly straightforward process, as highlighted below.
What is a New York Certificate of Good Standing?
In New York, a Certificate of Good Standing for an entity registered with the Department of State is called a “Certificate under Seal.” This is the same document that other states call a Certificate of Good Standing or Certificate of Existence and verifies the registration of a business in New York, certifying that it is compliant with state regulations. The Certificate under Seal is a one-page, legal document that bears the official seal of the New York Department of State for authentication.
Within a typical NY Certificate of Good Standing, will be the following information:
- The legal business name
- The type of entity (corporation, LLC, or other business type)
- Registration date
- Status confirmation (whether or not the business is in good legal standing)
- If the business is authorized to conduct business in the state of New York
Why do you need a Certificate of Good Standing in New York?
There are various reasons why a business may need to obtain a Certificate of Good Standing in New York:
- During mergers and acquisitions: Whether you’re buying a company or selling yours, you’ll need to prove the good standing status of the businesses involved.
- To obtain licenses and permits.
- When applying for a loan or line of credit.
- For foreign qualification in another state: If you are registered in the state of New York but want to expand across state lines and operate elsewhere, you’ll need to prove your good standing.
- To obtain insurance: Some companies won’t provide you with insurance if you’re not in good standing.
How to request a Certificate of Good Standing in New York
To request an NY Certificate of Good Standing, you need to make a written request to the New York State Department of State’s office. In this request, you need to include information such as the name of your business entity, the date of formation, whether the request is for routing or expedited processing, and a mailing address where the certificate should be sent. Your request can either be sent by mail, fax, or in delivered in person.
Corporate Creations can handle this process for you and ensure that your certificate is received promptly while accommodating routing options and expedited requests.
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