If you are planning to form a limited liability company, limited partnership or limited liability partnership, the New York Department of State recommends that you consult an attorney to help you navigate the process. One small mistake or procedural oversight could lead to the suspension of your authority to conduct business in this state.
The publication requirements are an important yet often overlooked aspect of LLC, LP and LLP formation. Publication must be done in two newspapers for six consecutive weeks, once per week. The newspapers must be designated by the county clerk. One of the newspapers must be printed weekly and the other must be printed daily.
You will receive an Affidavit of Publication from the publisher or printer of each newspaper. You must file a Certificate of Publication, along with the Affidavits of Publication, with the Department of State, Division of Corporations. The address is:
One Commerce Plaza
99 Washington Avenue, Suite 600
Albany, NY 12231
You will have to pay a $50 filing fee for the Certificate of Publication. You can find the forms on the website of the New York Department of State.
Forming a limited liability entity is a complex process, and one error could cost you time, money and suspend your rights to conduct business. The best way to avoid these issues is to consult a corporate lawyer.
A Long Island corporate attorney from Solomon Richman P.C. will guide you through the process of forming a limited liability entity. We have been assisting businesses in New York for more than 55 years. Call 516-437-6443 to schedule a free consultation.
My Limited Liability Entity Was Suspended – What Should I Do?
Any limited liability entity that was authorized to do business or formed after June 1, 2006 must fulfill the publication requirements within 120 days of the qualification or formation of the entity. If you do not meet this requirement, your authority to transact, conduct or carry on business will be suspended.
If this happened to you, a corporate lawyer can help you gather the necessary evidence to get your suspension annulled. You will have to file a Certificate of Publication along with the Affidavits of Publication to do this.
Exemptions from the Publication Requirements
Pursuant to Section 23.03 of the Arts and Cultural Affairs Law, limited liability companies that are theatrical production companies do not have to fulfill the publication requirements if the words “limited liability company” appear in their names. Limited partnerships that are theatrical production companies are exempt from the publication requirements if the words “limited partnership” appear in their names.
If you would like to form a limited liability entity, or if you need help identifying the best structure for your business, turn to Solomon Richman P.C. Call 516-437-6443 to schedule a free consultation with a corporate attorney in Long Island, New York.