How to form a limited liability company in New York?

How Do I Form a Limited Liability Company? Organizers form an LLC by filing the Articles of Organization, pursuant to Section 203 of the Limited Liability Company Law, with the Department of State. Organizers prepare, sign and file the Articles of Organization that creates the LLC.

Who are the members of a LLC LLC?

LLCs in general are businesses registered with the state that consist of one or more people—called LLC members—who own the business. Like other LLCs, PLLCs protect their individual members from people with claims for many (but not all) types of financial debts or personal injuries.

What’s the deal with New York’s LLC publication requirement?

Don’t forget to factor in the $50 Certificate of Publication filing fee, too. Do I really need to do this? According to New York Limited Liability Company Law § 206, LLCs that fail to comply with the publication requirements within the designated timeframe will have their authority to carry on, conduct or transact any business suspended.

When does New York LLC law go into effect?

The law went into effect on Sept. 13, 2019, when it was signed by Gov. Andrew Cuomo, and cannot be changed or clarified until the Legislature returns in January 2020. Even after the Legislature returns, it may not have any desire to change the law.

What is a LLC in New York State?

(LLC) is an unincorporated organization of one or more members, each having limited liability for the contractual and other liabilities of the company, formed for any lawful business purpose under the Limited Liability Company Law of New York State or any other jurisdiction.

What are the publication requirements for a New York LLC?

New York Publication Requirements. Newly formed LLCs in New York are required to publish a Notice of LLC Formation. It must be done according to the following specifications: The Notice of LLC Formation must be published in two approved newspapers in the same county as the principal place of business of the LLC.