What is the publication requirement?
New York Limited Liability Company Law requires that all newly formed LLCs publish a notice of formation within 120 days of forming. This notice must be published in two newspapers for six consecutive weeks. The newspapers must be those that are designated by the appropriate county clerk. Publication must be done in the county where the LLCs registered office is located. After the notice is published for six weeks both newspapers will send an affidavit of publication, which must then be forwarded to the New York Secretary of State along with the Certificate of Publication.
How much will it cost to satisfy the publication requirement?
The cost associated with the New York LLC publication requirement varies greatly depending upon in which county within New York State the LLC is located. For example, publication of the LLC in Albany County will be $350 while Kings County will cost $625. If the LLC is located in Manhattan expect to pay close to $1,100.
What happens if I don’t publish within 120 days?
If the certificate of publication, along with affidavits of publication, are not submitted to the Department of State within the allowed 120 days the authority of the LLC to conduct business in the state will be suspended.
I formed my LLC with LegalZoom. Do I still need to publish?
Yes! While LegalZoom is busy trying to sell business cards and marketing services they neglect to mention the publication requirement. If you formed your LLC with LegalZoom or another service company be sure you complete publication as soon as possible.
Will I save money if I form the LLC outside of New York State?
Most likely, no. New York law requires foreign LLCs (i.e. those that are formed in another state) to publish notice of their authority to do business in New York. The requirements are virtually identical and the cost will be about the same.
Is there a way to avoid the publication requirement?
There is no way to avoid the publication requirement. You can consider forming a corporation. Speak with an attorney who will help you decide if that is an appropriate choice for your business.
How do I know that the process is complete?
When publication is complete you will receive a receipt from the NYS Department of State Division of Corporations. Retain this, along with your filing receipt. NY does not issue duplicates.
Are there any extra fees associated with your LLC Publication Package?
No. The price listed is the total price you pay. No surprises.
This post is for informational purposes only. It is not intended to be, nor should it be construed as legal advice. Always consult an attorney, licensed in your state, before taking legal action.