Requirements for New York Franchise Annual Reports
Franchisors with franchise locations in New York must follow the requirements to file an annual franchise report in New York with the Department of Law within 120 days of the end of its fiscal year.
Pursuant to New York State Regulation, franchisors with franchise locations in New York must provide the following information when submitting their annual report to the New York Department of Law:
The name and address of each franchise sold, the date of sale and the name, address and telephone number of the person purchasing the franchise;
The price paid and credit terms upon the sale of each franchise listed in subdivision (above); and
A copy of the annual audited financial statements for the franchisor as prepared by an independent public accountant;
IMPORTANT DISCLAIMER: The information contained on this website is provided for general educational purposes only, should not be relied on as legal advice and does not serve to create an attorney client relationship. In utilizing this website you acknowledge that there is no attorney client relationship between you
and Charles N. Internicola, Esq. and that the information contained on this site does not and cannot serve as a replacement for the competent legal advice of a licensed attorney in your state. Further you acknowledge that any and all citations to cases and statutes must be independently verified by competent legal counsel to confirm the validity and accuracy of such information. The content of this site is subject to the Copyright of its author and owner, Charles N. Internicola, Esq.
