The float level could be incorrect, causing the fuel not to shut off.
There could be some crap in the needle and seat assembly, stopping the needle seating
You could also have a varnish buildup in the needle seat.
Remove the seat from the carb, and thoroughly clean the passage where the fuel line comes in.
Make sure the rubber O ring on the seat is not broken.
Put some toothpaste on a Q tip and revolve it up in the seat , to clean out any varnish.
Re assemble and check the float level, 20.0 to 21.5mm on a stock carb.
Img courtesy Awk08
It is ok to leave the petcock on if you are riding often. No harm will come if you leave it on.
It can become a diagnostic tool, because if you have a problem with dirt of varnish in the needle seat, or a float problem, it will be evident on the garage floor.
If you are not going to ride again for a while, you should turn the petcock off and drain the fuel from the carb bowl.