If you choose the Limited Liability Company (LLC) as your business entity, you must at least have an idea about the publication requirements as this is one of the crucial obligations that you need to comply with after the business filing in New York. A publication requirement is an agreement command that seeks the establishment and possession of an LLC to proclaim an announcement to the public through the local newspapers upon being formed.
In NY, section 206 of the Limited Liability Company Law orders the LLCs to publish a notice in daily and weekly newspapers in the country. Furthermore, the LLC should circulate the publication in the country wherein the business office is located. To guide you with the complete process, conditions, and all the things that you should know, just relax and dive into this blog:
Filing the Articles of Organization
You must first know how you should legally form your LLC and how much does a LLC cost in NY. To do this, gather all the information needed, such as your business name, address, registered agent details, and name and address of the incorporator. Then you can file the Articles of Organization with the Secretary of the State which will cost you about $200. This serves as the formal document from the NY Department of the State, Division of Corporations.
Meet your Publication Requirements
Filing the Articles of Organization means you are cohering upon to the biennial report for your LLC. After this process, you are now demanded to comply with publication requirements. Here is the guide for you to follow:
1. Publicize the Notice in Two Local Newspapers
As mentioned, New York City’s section 206 of the Limited Liability Company Law commands the LLCs to publish the announcements in daily and weekly newspapers in the country.
2. Cohere with the Right Period
Upon publicizing the materials in two local circulations of newspapers, daily and weekly, a limit of time within 120 days of LLC formation is required based on the law. This must be done once a week for six consecutive weeks too. The newspapers must be circulated in the country from which the LLC office resides.
3. Expect for the Affidavit of Publication
After cohering to the publication requirement, the publisher of the newspapers will provide you the Affidavit of Publication as proof of compliance with the NYC LLC Law.
4. File the Certificate of Publication
Along with the provided Affidavit of Publication, you must submit the Certificate of Publication to the New York Department of State in order to accomplish the process. Yet, this process will require you a 50-dollar fee. The Department of the State is located in the Division of Corporations, One Commerce Plaza, 99 Washington Avenue, Albany, NY 12231.
As one of the owners of an LLC, you need to be responsible for your duties imposed by the laws. Not fulfilling the publication requirement, either intentionally or unintentionally, will cause a suspension of forming your LLC in NYC.