LLC Questions
Submitted by satori on Tue, 08/26/2008 - 00:08.
I am not familiar with what makes an LLC domestic or foreign. Could anyone shed some light on this?
Also, in New York State, an LLC is required to publicly announce the formation of the business for six weeks in two different newspapers designated by the county clerk. I would rather not do this, yet if it is not done, business can not be conducted by the LLC in New York State. A $50 filing fee is also required... Is there any way around this?
Thanks.
I will attempt to answer...
A domestic LLC is one was formed in the state you are operating in. Example: Your LLC was formed in Nevada, and you are operating in Nevada.
A foreign LLC is one formed in a state different than where you are operating. You formed your LLC in Nevada, but it is physically located, and operating, in Arizona.
As far as I know, there is no way to get around having to post your LLC formation in a local newspaper. We formed our LLC in Arizona, and posted it in a very small newspaper in a town a pretty far away from where we are. Chances of anybody seeing it are pretty thin (unless there are people out there looking specifically for it).
If memory serves correctly, the newspaper sends some sort of notarized statement to the state to prove that your LLC was announced in the newspaper. Without this, the state would not complete the LLC formation.
-Marshall
"I would rather not do this"
Why not? If you don't mind me asking.
If an LLC is what you want, then do what's required. Otherwise you may not have a legal corporation.