Forming new LLC in New York with 3 members, shld I fill out Owner's legal name field?

[Michaell]

To whom it may concern,

I'm in the process of forming an LLC in NY. I recently received a form from the NY State Dept of Taxation and Finance.

This is not a single member LLC. There are 3 members including myself, but I am the manager and CEO. The LLC will be taxed as a corporation.

I just received my EIN so it appears that I now have all the information needed to send in this NYS form TR-570.

At the bottom of the first page, in Part 3, it instructs me to enter the EIN assigned to the LLC, which I entered.

Next, there is a box which reads, "Check here if the LLC is a single-member LLC that is disregarded...." I didn't check that box because this LLC has 3 members.

Then, underneath that box, there is a field which reads, "Owner's legal name and EIN."

Do I need to enter my name and EIN again here? I just entered the EIN in the field directly above.

My impression is that this field might only be for single member, sole proprietorships because it's located directly under the check box for single member LLCs, in which case I should leave this field blank.

Is that right?

a) Should I NOT enter my name and NOT re-enter the EIN in this "Owner's legal name and EIN" field, because this isn't a single member LLC?
b) Or alternatively, is this field unrelated to the single-member LLC box directly above, so I DO need to enter my name in the "Owner's legal name and EIN" field?

If I leave a required field blank, I'm told this application will be invalidated, so I really want to get this right.

Any help you can provide would be greatly appreciated!

Warm regards,

Michaell

[vangogh]

Welcome to the forum Michaell. First let me say, that I really don't know the answer to your question. I wanted to reply to keep your thread active so that someone who does know will see it and offer a better answer than I can.

Based on your description, it sounds like the field does relate to the checkbox for a single member LLC, but without seeing the actual form, there's no way for me to know.

I did find the website for the Secretary of State for New York (https://www.dos.ny.gov/corps/llcguide.html). The link is to a page on the site for forming an LLC in New York. At the very bottom of the page is a phone number for the New York State Department of State, Division of Corporations, State Records and Uniform Commercial Code. It's (518) 473-2492. They'll know for certain about the field in question and will know better than any of us.

Hope that helps and hope someone with more information than I have will see this now.

[Owen]

Are there any additional fields if your business is a multi-member LLC?

This sounds like a post for @Business Attorney *dun dun dun dunnn*

[obcraig]

To whom it may concern,

I'm in the process of forming an LLC in NY. I recently received a form from the NY State Dept of Taxation and Finance.

This is not a single member LLC. There are 3 members including myself, but I am the manager and CEO. The LLC will be taxed as a corporation.

I just received my EIN so it appears that I now have all the information needed to send in this NYS form TR-570.

At the bottom of the first page, in Part 3, it instructs me to enter the EIN assigned to the LLC, which I entered.

Next, there is a box which reads, "Check here if the LLC is a single-member LLC that is disregarded...." I didn't check that box because this LLC has 3 members.

Then, underneath that box, there is a field which reads, "Owner's legal name and EIN."

Do I need to enter my name and EIN again here? I just entered the EIN in the field directly above.

My impression is that this field might only be for single member, sole proprietorships because it's located directly under the check box for single member LLCs, in which case I should leave this field blank.

Is that right?

a) Should I NOT enter my name and NOT re-enter the EIN in this "Owner's legal name and EIN" field, because this isn't a single member LLC?
b) Or alternatively, is this field unrelated to the single-member LLC box directly above, so I DO need to enter my name in the "Owner's legal name and EIN" field?

If I leave a required field blank, I'm told this application will be invalidated, so I really want to get this right.

Any help you can provide would be greatly appreciated!

Warm regards,

Michaell



Hey Michaell:

Did you ever figure out what you are supposed to enter in the "Owner's legal name and EIN" field? Stuck on this now myself and would be grateful if you could share any update. Thanks!

[businessexpert]

I just did a video on this. This should help!

https://youtu.be/Z8TortmLy4I