This blog post introduces you to yet another short training video titled “Satisfying The NYC LLC Publication Requirement.” So far, we have already differentiated between a C-Corp and a Limited Liability Corp. (LLC) in our Video and blog post “The Miletti Law Quick Guide To The Difference Between a C-Corp and a Limited Liability Corp. (LLC), respectively. As the title of the current blog post suggests, we have provided you with key information on all you need to know about satisfying the LLC publication requirement in the state of New York. As a backdrop, it is notable that most people prefer LLCs because, while you do not need to maintain the formalities associated with other business structures, an LLC offers greater operational flexibility.
With that said, let us get down to it!
Satisfying The NYC LLC Publication Requirement
Most likely, you are not aware that it should cost you no more than $250 to satisfy the LLC publication in New York. It is important to note that LLCs are required to file Articles of Organization with the New York State Department of State (NYSDOS). Usually, since this is a very short document, you may not need to retain a lawyer to assist you in the filing process unless you experience legal hurdles along the way. However, it would be preferable to pay for an agent of service, such as Corporation Service Company (CSC) (we have no preference for it), which offers a very low subscription fee per annum. This means that you have an agent in New York that would be served under the Secretary of State pursuant to New York Consolidated Laws, Limited Liability Company Law – LLC § 303 (also known as service of process on LLCs).
With that in mind, it is crucial to understand that filing the Articles of Organization is not the final step of the process. For instance, in addition to obtaining your EIN (employer identification number), you also need to file a notice of publication. As a publication requirement in New York, you are required to publish in a minimum of two newsletters or newspaper journals (preferably daily and weekly) for six weeks. However, the decision of where to publish is the sole discretion of the city clerk of the county in which you are filing. The point is that in order to satisfy the publication requirement in New York, you only need to do this – send a notice of publication to the Division of Corporations, where the same would be published in two newspapers or newsletter journals under the advisement of the city clerk. With that, you will have satisfied the publication requirement and after six weeks, send the notice to the Secretary of State, and you are good to go.
Now that you have satisfied this requirement, you must be wary of what comes next because a thousand companies will most likely solicit you and choke you with tons of information that this is what you must do, this is the best way, and whatnot. Mind you, each company requires you to pay certain costs and fees, all disguised in a weirdly inflated price structure. Out of experience, every single company that has reached Miletti Law® has charged between $1800 and $3000. In fact, one approached us and required a fee of $2800, which is utterly absurd. Unfortunately, most people are unaware that this is a tremendous and colossal waste of time, effort, and, most importantly, their hard-earned dollars.
Regarding this, we strongly advise against falling into that trap. What you need to do is complete the process online. Yes, by making Google your friendly friend, write an email to the county clerk of the county in which you are filing your notice of publication. For instance, you could just type “New York Clerk LLC requirements” and make good use of the Google search results.
In a nutshell, the point of this blog and the video accessible through the link provided earlier is that be wary of companies, with no reference to any, in particular, looking to take advantage of your lack of information and knowledge about how to satisfy the publication requirement. While you could use an agency, it is not a tremendous task to do it online if you have the basics of using Google. This would not only save you time and effort, but it would also help you save some thousand dollars, and you will have got what you wanted.
Please feel free to watch our Video. As we continue hammering on new stuff daily, stay tuned for more educational videos, inspiring training, & legal advice. In the interim, if there are any questions or comments, please let us know at the Contact Us page!
Always rising above the bar,
Isaac T.,
Legal Writer, Author, & Publisher.