Yonkers, NY asked in Business Law for New York

Q: Do I have to register my LLC in NY state for day-trading ("maintaining bank accounts") purposes? See NY LLC Law 803

In the NY LLC Law Article 8, under 803 it states "maintaining bank accounts" specifically as NOT "doing business" in NY State. So I am going to assume that legally I do not have to register my LLC that I use for maintaining my brokerage bank account, even though I live here in NY.

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1 Lawyer Answer
  • Montclair, NJ
  • Licensed in New York

A: Doing business means transacting with customers / vendors and even advertising, you are correct just "maintaining a bank account" is not doing business. If you have a more specific question (which I think you do) feel free to email me privately.

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