Legal form of the NY Start Up -company
NY Start Up -company is not a legal form of business. NY-company income and expenses are handled as personal income.
NY-companies are not registered to Patent and Registration office -database and you don’t need to file a termination notice either.
If NY-company has managed to sell products or services, you need to do basic accounting to figure out the potential profit that’s distributed to company members. This potential profit (income-expenses) is taxable income
Business ID and when you need it.
If you sell your products to other companies, they may require business ID (Y-tunnus) in order to pay the invoice. A general guide from the Tax administration is to use the University Business ID. If this is not possible, you can apply for business ID from JA Finland. The application needs to be signed by the teacher.
Purchases (Not possible)
Usually, the NY Start Up-company purchases can be done as a private person. If the company refuses to sell to private persons (no sales without Business ID, or Y-tunnus), then you need to find another vendor.
The Business ID from JA Finland cannot be used to make purchases.