17 March 2010 ~ 13 Comments

Why 2K?

Uncategorized

Editor’s Note: this is a guest post by Steven Masur of MasurLaw (www.masurlaw.com).

Why should each early stage company pay $2,000 to publish that it exists in a tombstone ad in an obscure newspaper?

The LLC publication requirement puts New York at a disadvantage to Silicon Valley and Route 128 in attracting new tech companies to form in New York.

The LLC publication requirement robs New York of jobs in one of the largest sectors of the economy, companies that employ 5 or fewer employees.

The LLC publication requirement amounts to a government subsidy to certain publishing companies at the expense of early stage companies.

The LLC publication requirement has no practical reason, when any company that forms in New York can be found on the New York Department of State website.

It is time for New York to abolish this obsolete bureaucratic practice and support our burgeoning entrepreneurial community.

For additional info click here.

If you’d like to take action to abolish this senseless $2,000 fee, please sign the petition!

  • Michelle Fix

    This is unnecessary and ridiculous. It's expensive enough to start a business and try to contribute to the economy be employing fellow Americans much less having to pay for bureaucratic crap.

  • http://launchgrowipo.com/ Trevor Owens

    I'm confused by the context of this post, so even if I form a company in Delaware I have to pay $2,000 if my office is in NYC?

  • masur

    Yes, that's the law. you need a certificate of authority to do business in ny, and if your company is an LLC, you need to comply with the llc publication requirement.

  • http://profiles.google.com/helenkoor Helen Koor

    Hello, Can you please assist me in understanding the latest regarding the LLC publication requirement in NY. Is it, or is not repealed. The following links indicate the publication requirement has been repealed. But then again I can be reading it wrong. And when does it take affect?

    http://open.nysenate.gov/legis…

    and

    http://assembly.state.ny.us/le…

  • Steven Masur

    Thanks for checking in on this. I believe these are bills being presented to the State Assembly. Please feel free to contact me if you are interested in discussing further. My contact information is at http://www.masurlaw.com.

  • AdamZ

    check out publishmyllc.com had “fair prices” for an unfair law

  • Jay

    The link to the petition only routes me back to this page. u00a0

  • Jbergeresq

    I used a company llcpublishing.com very happy with service and they were the cheapest.

  • Kabiela.com

    Anyone have updated status on what happened to this petition (or the bill, for that matter)…?

  • Mike Choi

    Also: u00a0http://open.nysenate.gov/legislation/bill/A6559-2011

  • Steven Masur

    As an update to this post, the New York Legislature has notu00a0yet repealed the publication requirements for limited liability companies. The current bill to repeal the requirements isu00a0A6559-2011. The last action on the bill was on March 21, 2011 when the bill was referred to corporations, authorities and commissions.nnMy guess is that, like earlier bills, this one wonu2019t be passed before the end of the current session because of opposition from the local newspapers in upstate New York. However, we can probably expect to see a similar or identical bill next session to repeal the publication requirements.u00a0nn

  • Neil

    I had the same problem. I would like to sign the petition.

  • Lfd220

    Hey I started a facebook group (I didn’t find one in existence yet–let me know if I just didn’t find it…) for this to try to gain more momentum.nIt’s here:nhttps://www.facebook.com/groups/245696192159834/nPlease join, and tell your friends and colleagues and neighbors and neighbor’s parakeet!