It is required that a newly created LLC publish in 2 local newspapers for a total of six straight weeks for each of the first two months after formation. A list of newspapers must be provided by the clerk’s office in the municipality, wherein the LLC keeps its office before the newspapers can be distributed. Affidavits of publication, which also are issued by the newspapers at the conclusion of the publication period, must therefore be filed with both the New York State Department of State among one hundred and twenty (120) days after the day on which the LLC was first filed with the state. As soon as this is completed, the publishing requirement has been met, and the LLC is no longer in violation of the law.
Newspapers have always been a primary source of public knowledge, regardless of the period in which they were published. So many states believed that the LLC publication in New York County of crucial announcements in newspapers was the most effective method of communicating them. Some states still publish public information via local and state newspapers, despite the fact that most information is now accessed through contemporary techniques of mass communication.
Businesses that incorporate an LLC or corporation in certain states are obliged to publish a proper statement of the entity’s creation, which includes the contact information of the company as well as its directors/members.
What is the maximum amount of time that published notices can be displayed?
Your publishing notice must appear in two separate newspapers for a total of six weeks in order to be considered effective. One of the newspapers must have been a daily newspaper, and the other must be a weekly publication. Both newspapers must be published in the same county as the location of your LLC’s headquarters. A county newspaper cannot be selected at random for LLC publication in New York County. The county clerk must approve the newspapers you select to publish in before they may be used. You could think that publishing notifications for six weeks before you could even start conducting business is a difficult and restricting task, but fortunately, you won’t have to alter your notice or start again if any aspects of your firm change throughout those six weeks.
When forming an LLC in New York, how much does it cost?
As you might expect, publishing costs vary greatly from one newspaper to another and from one geographic region to another. It might cost thousands of dollars to publish in New York County. If you want to publish in a certain county, you aren’t allowed to do it… or are you?
It is possible to specify the office address (as well as the county) of your registered agent on your articles of organization if you engage a registered agent. Publishing in the county wherever your registered agent is situated is made possible as a result of this action.
For instance, our office is located in Albany, where publishing rates are reasonable (about $150 per article). When you engage us and utilize our company address as your own, you will be able to satisfy the publication requirements in Albany. Or, even better, you can engage us to take care of the complete publishing requirement for you ($375).
A violation of Section 206 of the New York Limited Liability Company Law will result in your LLC’s capacity to carry on, conduct, or perform transactions being revoked if you refuse to adhere to the LLC publication in New York County requirement within the specified term.
Although this appears to be excessive, there is a flaw in the system. Your company’s contract, as well as its liability shield, would be protected under the legislation (206(b)(4)), according to the statute. The failure to comply will almost certainly result in your LLC losing its ability to sue in New York courts, as well as its opportunity to secure a Certificate Under Seal (certificate of good standing), which certain vendors and partners frequently require before doing business with your company in the first place.
Is it possible for me to do it myself, or do I require the services of a professional?
You can absolutely do it yourself if you have the patience to wait. You can approach the County Clerk of such a county where the LLC’s office is located and present them with a copy of your filing receipt after you have filed your Articles of Organization as well as created the LLC. Sending a letter is usually the most convenient method. The Clerk will assign you 2 newspapers, which you will be responsible for contacting, arranging for publication, as well as paying the appropriate fees to each of those publications. It is mandatory to disclose the Certificate of Publication together with those affidavits and the cost in order to complete this process.
It is possible to engage an attorney to fulfill the publishing requirement on your behalf if all of this appears to be too time-consuming. The LLC’s owner(s) are ultimately responsible for making sure that all standards are met. To ensure that your specific circumstances and the subtleties of New York’s LLC Law are properly addressed, it is always advisable to contact an attorney.