Why do I need to publish my New York LLC ?
In the State of New York the law requires that every Domestic and foreign publish A Notice of Formation of their Limited Liability Company in two newspapers for six consecutive weeks. The newspapers required are designated by the County Clerk located In the country listed on the articles of organization submitted at filing with the Secretary of State division of corporations. One newspaper is a weekly publication; the other is a daily publication.
Section 206 of the NY LLC Law Affidavits of publication. Within one hundred twenty days after the effectiveness of the initial articles of organization… a copy of the same or a notice containing the substance thereof shall be published once in each week for six successive weeks, in two newspapers of the county in which the office of the limited liability company is located, one newspaper to be printed weekly and one newspaper to be printed daily, to be designated by the county clerk.
What if I don’t publish a Notice of Formation?
NOT publishing may be a critical mistake. After a period of time the State may suspend your ability to transact business. Think of what this could mean. Most importantly you may not now have the protections of your personal assets which among others would be one of the biggest reasons you formed the LLC to begin with. Not being in good standing may cause other issues such as inhibit the ability to obtain a loan or possibly register a vehicle. Although this can be a time consuming and additional expense there are no short cuts.
Section 206 of the NY LLC Law If within one hundred twenty days after its formation, proof of such publication, consisting of the certificate of publication of the limited liability company with the affidavits of publication of the newspapers annexed thereto has not been filed with the department of state, the authority of such limited liability company to carry on, conduct or transact business in this state shall be suspended, effective as of the expiration of such one hundred twenty day period.
