After forming a limited liability company (LLC) in New York, the entity needs to fulfill something called the LLC publication requirement. Below, you will find some common questions about the requirement, which is mandated by New York State law.
What exactly is the LLC publication requirement?
Within 120 days of filing its formation papers, for a certain amount of time, an LLC must publish a notice about its formation in two designated publications.
What kind of information needs to be in the notice?
The law describes all the information the notice must contain, including the LLC’s name the county in which the LLC is located. This list is not exhaustive. Depending on the LLC’s circumstances, other information must be placed in the notice.
What are some of the fees associated with publication notice?
The costs for the notice vary depending on the county of formation. The publication costs for Bronx and Manhattan are the highest, usually costing at least $1,000.
What happens if an LLC doesn’t fulfill the requirement within 120 days of formation?
Technically, the LLC’s authority to “carry on, conduct or transact any business” will be suspended, effective as of the expiration of the 120-day period. However, once the LLC fulfills the publication requirement (even outside of the 120 days), that suspension will be annulled.
If you have questions about the New York LLC publication requirement, you can contact us here. For more information about LLCs, read this blog post about two important benefits of forming an LLC.
