Formally means properly or officially (adv.)
Formerly means earlier (adv.)
example:
Formerly they knew the family very well.
They formally dressed for the wedding.
In most cases, you probably want formerly known as, referring to an old name that is no longer used. For example, "Benin, formerly known as Dahomey, is a country in West Africa."In the alternative, formally known as refers to a fancy name that is usually abbreviated in ordinary use. For example, "The UK, formally known as the United Kingdom of Great Britain and Northern Ireland, is a country in Europe."
Formally, it's known as New York, New York. The main part most people think of as NYC is formally known as Manhattan. Of course, formerly it was known New Amsterdam. (The tense of your question suggests you meant formerly and not formally. Learn to spell.)
(ADJ.) done in accordance with rules of convention or etiquette; suitable for or constituting an official or important situation or occasion.(ADJ.) officially sanctioned or recognized(NOUN) an evening gown; or an occasion on which such a gown is worn
"Former" is an adjective that describes someone or something that previously held a particular position or status. "Formerly" is an adverb that indicates that something was true in the past but is no longer the case.
Being short in stature (less than 4 feet 11 inches) is known as dwarfism. People who have this condition were formerly called midgets.
The Bank of Bermuda was formerly a group of merchants who operated separately. They finally incorporated in the year 1890 after taking over N.T. Butterfield & Son.
A PAC is not formally related to a political party.
An enterprise refers to a business venture that may have not been formally formed. It is usually managed by the family members. An industry refers to a business venture that was formally constituted.
There is no difference, per se. It's just semantics. Asia was formerly known as the Orient, which is why the two are synonyms.
I don't think this is formally taught in any school, but CSM (Colorado School of Mines) and MST (Missouri University of Science and Technology, formerly University of Missouri - Rolla, formerly Missouri School of Mines) would probably have classes that would be relevant.
A PAC is not formally related to a political party.
The land that was once called British Honduras is now the country of Belize.