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Is Your Business Expanding to the State of New York?
Running a business is challenging, often thankless work. You are not guaranteed a paycheck. You worry about your own insurance. It can be mind-racking, panic-inducing, and just downright difficult.
But when things work, it is one of the most rewarding experiences a person can feel! Living your life the way you want to. Gain those ever-important repeat clients and not answer to anyone other than yourself. It is just great.
Do you know what is even better than that? When your business reaches a position where it can expand, garnering new opportunities, new growth, new challenges, and more earning potential!
If your business has reached the exciting potential where you are able to expand, you may be wondering what legal pitfalls you should be worried about. Is your business already based in New York, or are you looking to bring your out-of-state business to the Empire State? Either way, let’s go over some of the ways legal counsel can help you.
What Business Issues Should You Be Prepared For?
There are many things you should be prepared to deal with when expanding your business to New York. You are likely already aware of the incredibly high taxes you will have to pay while doing business in New York. It is often joked about nationwide. The same can be said for the high cost of living. If you intend to live in New York, either temporarily while you get your business going or permanently, adopting the state as your new home, you should be prepared to pay a decent amount to live in New York.
The New York market is extremely competitive. Many businesses are trying to convince the New York populace that their goods and services are the defacto best around. Even though New York is the fourth most populated state, it is also home to some 2 million small businesses, all vying for the same attention in the same market. That means you will be constantly working for your keep!
New York is a progressive state. Their top priority is the citizens who call the state their home. New York takes environmental concerns seriously because protecting the beautiful nature and wildlife that reside in the state is important.
Why Would You Need Legal Counsel to Expand in New York?
What kinds of legal pitfalls could you run into while expanding in New York?
The most common legal issue you will run into is the complex regulations the state of New York implements in order to protect its citizens and environment and ensure the safe operation of businesses.
As a business owner, you will be dealing with estate laws, business laws, tax laws, employment laws, and so much more. Having a team of experienced business and real estate attorneys on your side while you grow your business is just sound business practice.
Suppose you grow your business with all of these regulations in mind from the beginning of your expansion in New York instead of waiting for them to become an issue later on. In that case, you can save yourself a lot of headaches and, likely, save yourself a lot of cash, too. Working with the state agencies that operate in New York can ensure that you remain compliant while operating in New York. Working with the talented team at Fisher Stone, P.C., you can rest assured that you have access to all of the resources to make sure you are operating in a way that complies with local regulations while giving you access to the resources that will push your success!
When you begin expanding your business in New York, building your business around the regulations required by the state can help ensure your success.
Working with your legal team, you can determine if your business needs a business license and what kind of licenses it needs. They can help you get the permits necessary for your business if there are any. Your legal team can ensure you are not only finding the right documents but also filling them out properly. Navigating the legal landscape is difficult; put some of your worries to rest by working with an experienced business lawyer.
Your business lawyer will help you understand how taxes work in New York. We all know it’s a bad idea to get on the wrong side of the IRS. Having a business lawyer on your team can help you know you are in compliance with tax laws.
Working with your business attorney, you can rest assured knowing that you are properly incorporated and licensed when doing business in the Empire State. Why risk the protections that separate your business assets from your personal assets?
When Should You Find a Business Attorney?
You should have an experienced attorney on your business team well before you even consider breaking ground in New York. Working with the knowledgeable team at Fisher Stone, P.C., you can build your business around the complicated regulations, tax laws, real estate laws, and business laws you will find while expanding your business in New York.
Call 212-256-1877 to speak with the experienced team at Fisher Stone, P.C. Our team is experienced with all facets of New York Business Law, as well as New York Real Estate Law. Contact us today to schedule your free consultation and take some of the worry out of managing your business.
