LLC is the Limited Liability Company, which is a special concept in the business entity. It combines the elements of sole business, partnership business and the corporate business. The term CCL becomes popular and most of the start up businesses and the old business want to become member of CCL. It has many advantages, the most important being the protection and flexibility. Any company can become the LLC member by applying as per the Department of State, the statutory requirements being vary with State to State. Once the company becomes the LLC member has to undergo LLC publication which is again a mandatory thing to be followed strictly by the LLC members, the details of which can be found in https://windsorcorporateservices.com/product/publication-order-form/.
What is LLC Publication
According to the revised limited liability company law 2006, New York the newly formed LLC member in the New York has to publish a notice in the two periodicals which include one daily and one weekly for six consecutive weeks. This notice should give information about the LLC like its name, its office location normally called county, the date of formation of the LLC and the statement from the secretary of the state about the LLC. The publication should not be like advertisement and should follow the guidelines provided by the state county. The publication should also be notified within 120 days of the LLC formation, failing of which may lead to suspension of the business in the New York. This publication is also mandatory to foreign LLCs doing business in New York. All the information about the LLC publication can be found in https://windsorcorporateservices.com/product/publication-order-form/. These websites will take care in getting the LLC certification from the State County.
The reason for the publication
The reason for the LLC publication is intended to increase the financial benefits of the State not the members of LLC. There are designated short lists of approved newspapers where the LLCs have to publish with the Department of the state county. It is the county clerk who decided the LLC to give his publication. State clerk decides the periodical generally based on the location of the LLC. Thus the state gets income from the news publishers. News publishers in turn financially benefitted by the LLCs. On the whole the publishing requirements purely intended for the benefit of community. Newspapers rely on these publications as a source of income.
From the point of the LLC members these publications is of no benefit and will not help in improving the business. As this publications are not in the form of advertisement and the public doesn’t show interest in reading. In addition the publication requirements becomes burden to the members of small business as the cost for the publication may goes up to 2000$.
Thus the LLC publication rule is completely a financial beneficiary source for the news publishers and the Department of State. It is a burden for the members of LLCs especially for the small businesses in terms of the costs for the publication and will not help in his business development.