Last Monday, Gov. Cuomo announced the launch of a new online filing system to form Domestic Business Corporations and Domestic Limited Liability Companies (LLC’s) at the Department of State. The system will eliminate the need for new businesses to pay expedited processing fees.
Gov. Cuomo said:
“By streamlining the process to create a new business venture, we are making it easier than ever for entrepreneurs to do business in New York. This innovative upgrade will save employers time and money, allowing them to focus on creating jobs and pursuing new opportunities for growth.”
This is a welcome change that will ease the process of starting a new business in New York. But given New York’s notorious reputation for being “anti-business,” it is clear that businesses here too many regulatory hurdles. We need state government to take real steps to reform and minimize regulations that stifle economic growth if we want to create jobs and enable economic growth.