A magazine from LLC You must proclaim the foundation of your corporation in New York. For six weeks straight, you must do this once a week in two periodicals. Since there are many other avenues for LLCs to publicize their information than media and advertisements, most other states have abolished this regulation.
You must fill out the New York-specific articles of organization and submit them to the state by mail, fax, in person, or online for new firms to incorporate an LLC in New York. The registration costs for an LLC in New York are $200 ($250 for a foreign LLC in New York).
How to Publish Your New York LLC Information?
The publication must be finished within 120 days of the date on your organization’s articles of incorporation. Even if you have 120 days to finish this procedure, you still need to finish the publication process.
According to the publication process structure, you must publish: the warning period of six weeks straight; The advertisement appeared in two newspapers (one must be a daily newspaper).
The weekly Altamont Enterprise, which costs $30, and the daily Times Union, which costs $60–100, are the two most suggested newspapers.
The information is as follows for mailing or emailing these newspapers your publication:
The Times Union
Legal Notices
P.O. Box 15000
Albany, NY 12212
518-454-5543
F: 518-454-5857
www.timesunion.com/legals/
tulegals@timesunion.com
Altamont Enterprise
P.O. Box 654
Altamont, NY 12009
518-861-6641
F: 518-861-5105
www.altamontenterprise.com/legal-notices
legals@altamontenterprise.com
A synopsis of your LLC’s articles of incorporation or proof of international credentials are the pieces of material you need to submit with your request to the recommended media. The publishing notice must contain the information listed below in accordance with New York LLC Law Section 206 (you may omit some of the material to save money on publication costs): The name of the LLC, The effective date the NY LLC was filed and formed (or qualified), The NY county where the office is, The principal office address, A statement that the New York Secretary of State is named as the agent for service of process, Name of a New York registered agent, and the purpose of the business.
The magazine is meant to be released in the county where you have your “office.” However, no judicial decisions have made this meaning clear. If someone is certain they can identify it, don’t trust them since they probably want to sell you something. To save on publishing fees, many people use an address in a tiny county (like Albany).
Many firms originally considering incorporating their LLC in New York are turned off by this publishing requirement since it is a major (expensive) headache. An LLC that is a “theatrical production company” is the only entity that is exempt from the publishing requirement. You should consult these top New York publication services.
Why Have the LLC Publication Requirement at all?
Given the obvious disconnect between the publishing requirement’s declared goal and its practical effects, the New York State Legislature must maintain this rule for a good reason. The powerful newspaper and print industries, which gain from being included on the list of newspapers maintained by county clerks throughout the State, have long been suspected and accused of having a vested interest in requiring the thousands of LLCs that form in New York each year to publish their notices.
In order to publish the notice in paper and not online, Section 206 has severe conditions. Additionally, the county clerks keep a limited list of publications that meet the tight requirements of the Act regarding circulation and frequency of publication, and these approved newspapers are permitted to charge a fee for printing the notifications of creation. The county clerk in Kings County (Brooklyn) even refuses to make the complete list available to the public, adding to the intrigue surrounding the conspiracy. In light of this, the publishing requirement compels an LLC electing to conduct business in New York to pay what amounts to a private magazine’s arbitrary set formation tax.
What Happens if You Ignore New York’s LLC Publication Law?
According to New York LLC Law 206, LLCs will lose their ability to continue conducting business if they don’t meet the publishing criteria within 120 days. The part also states that any contracts formed by the corporation will stay, as terrifying as that sounds, as will the liability shield.
It is more probable that your LLC will lose its authority to file a lawsuit in New York courts and that it won’t be able to get a certificate of good standing, also known as a certificate under seal, which partners or suppliers could want before doing business with your LLC.
Even if you finish the publishing after the 120-day period has passed, your LLC status will still be valid as of the day the LLC was first formed if you file your certificate of publication.
The majority of LLCs will satisfy the publication requirement, but occasionally, when they lack initial funds, they discover that the expenses of publishing in a newspaper are astronomical. Therefore, some businesses continue to delay publishing or just never do it.