Business administration license application and fee details are here.
Business administration license is required for most new businesses, such as a new hotel or restaurant, to open in the state.
Businesses need to have a minimum of $50,000 in assets to be considered for the license, according to the New York State Office of Business Administration.
Businesses can earn up to $200,000 annually if they have a payroll of $500,000 or more.
Business owners also need to file their application with the OBA within 60 days of opening, and pay the fees in the first 30 days of business.
Business owners also have to file an application for their business’s state license with the New Jersey State Business Licensing Board, which is separate from the New Hampshire Business License Board.
The licensing board is not required to issue licenses.
Business licenses will only be issued to companies that meet certain requirements, such a:A business needs to have at least $50 million in annual sales to be eligible for a licenseBusiness owners can earn $100,000 for each year of serviceA business that is licensed must be located in New York and be in compliance with New York state and federal lawsBusiness owners must pay all state and local sales tax to the state, but local sales taxes are waived for businesses that use state-issued business cardsBusiness owners have to pay taxes on the first $10,000 of any sales or use of the businesscard.
For more information about business licenses, go to the OMA’s website.