Chris Kendall of Madison County and Jacob Rieper of Columbia County are the DeregulateNY contest grand prize winners. Both nominated an antiquated state law requiring new limited liability companies (LLCs) to buy ads announcing a “notice of organization” for six weeks in two local newspapers, one weekly and one daily. This routinely adds several hundred to several thousand dollars to the cost of starting a business.
The first runner-up was Darren Goldstein of Suffolk County, who pointed out another section of the Limited Liability Company Law that requires LLCs to file biennial statements that include information already included on annual tax filings. In addition to the required $9 filing fee, businesses are also saddled with the cost of having the paperwork prepared.
Stephen Sadlon, of Westchester County, was second runner-up, highlighting a section of Tax Law that requires professional tax preparers to pay a $100 fee if they prepare 10 or more income tax returns in a year.
Justin Graf and Brian Sharlow tied for third runner-up, uncovering an archaic provision in the Public Lands Law that requires property owners who discover silver or gold on their private land to file a $50 “notice of discovery” and to provide the state with a “map made on tracing cloth with india ink of the land.” Further, the state is entitled to a one percent royalty on the market value of the silver and gold mined after five years.
Thank you to everyone who participated!