Yes, most likely the floats are stuck. Firmly tap the float bowls on the bottom of the carb with the handle of a screwdriver, this will sometimes work. There should be our hoses coming off the bottom of the carbs, see which hose is leaking gas and follow it up to find the culprit.
If the bike has been sitting a year or more, the carbs may need to be pulled and properly cleaned.
Good luck.