After You Form a Company in New York: What You Still Need to Do

Forming a limited liability company (LLC) or corporation in New York is an important milestone for any business. However, incorporation or registration alone is not enough to ensure long-term compliance or to fully protect your personal assets. New York imposes a series of post-formation requirements that business owners should understand and address. Below, we outline three key obligations that apply after formation, along with the relevant laws for both LLCs and corporations, and practical guidance on how to comply.

1. Maintain Internal Company Records and Governance Documents

Applicable Laws:

• Corporations: New York Business Corporation Law § 624 (Books and Records)
• LLCs: New York Limited Liability Company Law § 1102 (Records to Be Kept)

New York requires both corporations and LLCs to maintain internal records. For corporations, this includes shareholder meeting minutes, board resolutions, a stock ledger, and other corporate records. For LLCs, the law requires maintaining a list of all members and managers, copies of the Articles of Organization and Operating Agreement and copies of any resolutions or written consents adopted by members or managers.

After forming a company, you may start receiving documents asking you to fill out your Corporate Meeting Minutes annually. These forms often come from third-party companies, and while they can be useful, they are not official government notices. But the task they refer to—keeping accurate records of your company’s meetings and ownership—is absolutely real and important.

Our advice: Even for single-member LLCs or closely held corporations, you should take the time to document ownership, key business decisions, and officer or manager appointments through resolutions. This not only supports corporate governance but also helps preserve the limited liability protection that shields your personal assets.

2. Comply with Labor Law Posting Requirements

Applicable Laws:

• Federal Law: 29 U.S. Code § 666 and related labor statutes
• New York Law: NY Labor Law § 201

If your business has employees, you are required to post certain state and federal labor law notices in a location visible to all employees. These notices include wage and hour laws, anti-discrimination laws, OSHA regulations, and information about workers’ compensation and unemployment insurance.

Many new businesses receive notices from third-party vendors offering labor law posters for a fee. These companies are not affiliated with any government agency. In fact, the required posters can often be downloaded for free from government websites.

Our advice: Even if you have just one employee, you must comply. But again, these notices often come from private companies that charge a fee to provide the posters—they are not mandatory vendors. You can usually download the posters for free from government websites.

3. Publication Requirement (Within 120 Days of Formation)

Applicable Law:

• LLCs Only: New York Limited Liability Company Law § 206
  (Note: There is no equivalent requirement for corporations.)

Now, let us talk about one of the most confusing rules in New York: the publication requirement.

Under Section 206 of the NY LLC Law, newly formed LLCs are required to publish a notice of formation in two newspapers (one daily and one weekly) designated by the county clerk, once a week for six weeks, and file a Certificate of Publication with the Department of State—all within 120 days of formation.

In practice, however:

• There is no penalty, fine, or enforcement mechanism for non-compliance.
• The LLC remains in good standing even without publication.
• Contracts signed by the LLC are valid and enforceable.
• The courts have declined to impose any serious consequences for failure to publish.

The cost of publication in New York City can range from $1,000 to $1,500, which deters many small businesses from fulfilling this requirement.

Our advice: While we always recommend 100% compliance with all statutory requirements, the publication rule is widely ignored in practice. That said, if you wish to be fully compliant or plan to seek financing or contracts with government entities in the future, completing the publication may be worthwhile—and we are happy to assist.

You do not have to do everything overnight—but understanding what is required is part of running a responsible and protected business. And as always, we are here to help.

Need help with any of these post-formation steps? Contact our firm—we have got you covered.