New York LLC Information
A New York limited liability company comes into existence when the New York State Department of State approves the company's articles of organization. Operating as a New York limited liability company provides owners with limited protection from business debts and obligations.
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Name
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The name of a New York limited liability company must be unique compared to the name of other businesses registered in the state of New York. A New York limited liability company must contain the word "limited liability company" in the legal name of the business.
Articles of Organization
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A New York limited liability company's articles of organization must include information such as how long the company will be in existence. As of August 2010, a New York LLC must pay $200 to file articles of organization with the New York State Department of State's corporation division.
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Management
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Management of a New York limited liability company is left in the hands of the company's members, unless the company's operating agreement indicates that non-members will manage the company. The managers of a New York LLC are required to execute the decisions made by the company's members.
Publication Requirements
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As a formation requirement, New York LLCs must publish a notice of organization with two newspapers that operate in the same county where the New York LLC operates. The notice of organization must be published in each newspaper for six consecutive weeks.
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