If you get a Farm Fish Pond License then "Pond owner's should be aware that the laws governing fishing require all persons 16 years of age and older must have a fishing license except citizen-resident landowners and lessees or members of their immediate families actually occupying and cultivating farm lands when fishing on such lands. This means that guests or friends of the pond owner must have a license to fish the pond even though it is privately-owned."
http://www.dec.ny.gov/outdoor/7975.html

Without the farm fish pond license you need a fishing license.

I have the farm fish pond license which is appropriate for BOW less than 10acres. That is why I am interested in what license you have Liquidsquid. My license specifically states what species I can stock and how I can remove the fish from my pond. Alternatively there is a stocking license for lakes and streams, but here you must also list species to stock. Yes the licenses are free.

Thanks for bearing with me as this is all new to me and I am trying to gain a better understanding.