I recently registered a NY LLC with LegalZoom. The LLC is complete but I have to do a few things in order to have the LLC in good standing like sending back a few tax-related forms and completing the "llc publication requirement". I didn't do none of it and it's over the 90 days for the llc publication requirement. Can I do nothing and abandone the LLC, what will happen? Can I keep the name and restart the LLC with a proper lawyer?
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The LLC will not be automatically abandoned if you don't handle the publication requirement. You can still satisfy the publication requirement at any time and the LLC will then be ok. The consequences of not handling the publication requirement now are minimal and you can always fix it. Yes, you can "restart" the LLC with a proper lawyer but what's the point in getting a lawyer when the remaining steps are minimal. You don't need a lawyer to handle the publication requirement or doing tax filings. If you want to get rid of the LLC then there is a process to follow to dissolve the LLC (requires some corporate documentation). |
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I'm not a lawyer, so take this with a grain of salt. I believe that what you need to do is write a letter to your judge of probate and secretary of state, explaining the situation, and notifying them that the LLC never opened its doors (if that is the case) and is permanently closed. If you purchased a business license in your city or county, you should also send a letter to the business license office which explains the situation. If you actually did do business and made some revenues, but never paid the fees, then you need to consult a lawyer, and maybe an accountant about how to do your taxes. I believe that you can keep the name and restart the LLC with a proper lawyer no problem. Best wishes! |
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Here's some legal research on the subject to back the economic decision. No, you will not lose your LLC if you don't publish (it's pretty much an expensive tax on you $500-1600+ and a subsidy for newspapers).
This is not legal advice nor does it constitute and attorney-client relationship. |
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