Published by LawTechie - April 7, 2010 - LawTechie

I just recently posted an article comparing the steep price difference between registering an LLC versus an S-Corp and how LLC’s are subject to NY’s $2000 extortion publication requirement.

Now New York tech businesses have launched a petition, aptly named “Why-2K?” to nix this quasi-tax on small businesses. From Crains’ (subscription required):

A group of techies is launching an effort today to get the state to eliminate the law compelling new limited liability corporations to publish notices announcing their formation.

The requirement costs fledgling businesses up to $2,000.New York law requires every new LLC to announce its existence in two print publications such as Crain’s for six consecutive weeks, within 120 days of formation.

Let’s hope this goes through.

(Thanks go to Steve Caccavo of Creative Business Solutions for pointing me to the article.)

LawTechie is a blog focusing on trends in tech and digital media. Areas covered include intellectual property, cyberlaw, venture capital, transactions and litigation as they relate to the emerging sectors. The blog is edited by the firm's partner Tim Bukher with contributions from the firm's experts in their respective areas of law.

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