News & Analysis as of

Limited Liability Company (LLC) Disclosure Requirements

BCLP

Corporate Transparency Wave: New York and Beyond - What Businesses Need to Know About the New or Proposed State Laws on Corporate...

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The federal Corporate Transparency Act (the “CTA”) has prompted certain states to consider their own laws aimed at increasing the transparency of beneficial ownership. This article delves into the recently enacted New York...more

Saul Ewing LLP

Public Companies Quarterly Update (Q2 2024)

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Welcome to Saul Ewing’s Public Companies Quarterly Update series. Our intent is to, on a quarterly basis, highlight important legal developments of which we think public companies should be aware. This edition is related to...more

Ruder Ware

The CTA’s Large Operating Company Exemption in Focus

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The Corporate Transparency Act (the “CTA”), part of the federal government’s effort to curtail money laundering by means of shell company structures, imposes disclosure requirements on most entities registered to do business...more

Goodwin

New York Governor Signs LLC Transparency Act

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On December 22, 2023, New York Gov. Kathy Hochul signed the LLC Transparency Act (as amended, the Act). The Act, modeled after the federal Corporate Transparency Act (CTA), aims to enhance the ability of the State of New York...more

Cozen O'Connor

New York LLC Transparency Act’s Effective Date Delayed Until January 1, 2026

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As noted in our previous alert on January 22, 2024, the New York LLC Transparency Act (NYLTA) represents a pivotal step in New York State’s regulatory landscape, aligning closely with the federal Corporate Transparency Act...more

Vicente LLP

New York LLC Transparency Act Update

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Enacted in 2021, the Corporate Transparency Act (CTA) took effect on January 1, 2024. With this act, Congress intended to combat illicit activity by requiring certain US businesses to disclose ownership information to FinCEN....more

Jones Day

New York's LLC Transparency Act: What You Need to Know

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On March 1, 2024, New York State Governor Kathy Hochul signed into law a revised version of New York State's LLC Transparency Act, which is modeled on FinCEN's Beneficial Ownership Information Rule. Other states are...more

Mintz - Venture Capital & Emerging Companies...

Important Updates to the New York LLC Transparency Act

Clients with Limited Liability Companies in New York Likely Impacted - The New York LLC Transparency Act (NYLTA) has recently been amended. The key take-aways are as follows: Effective Date has been pushed back a...more

DarrowEverett LLP

Ready for More Corporate Transparency? Understanding the NY LLCTA

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Despite the fact that its constitutionality is currently in legal limbo, the federal Corporate Transparency Act has already had an impact rippling through a number of business sectors, thanks in no small part to the wave of...more

Perkins Coie

Get Ready for the New York LLC Transparency Act

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On March 1, 2024, New York Governor Kathy Hochul signed an amended version of the New York LLC Transparency Act (NYLTA), which was originally signed with provisions for amendments in December 2023. The NYLTA will go into...more

Seyfarth Shaw LLP

New York LLC Transparency Act: What You Need to Know

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On December 22, 2023 the State of New York adopted the New York LLC Transparency Act (as amended to date, the “NY LLCTA”). The NY LLCTA in many respects follows the federal Corporate Transparency Act (together with any...more

Blank Rome LLP

Amendments to New York LLC Transparency Act Delay Effective Date, Among Other Changes

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New York Governor Kathy Hochul last month signed into law amendments to the recently enacted New York LLC Transparency Act (as amended, the “NYLTA”), extending the NYLTA’s effective date from December 21, 2024, to January 1,...more

Fox Rothschild LLP

NY Is First State to Mandate LLC Ownership Disclosures

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New York has finalized its own set of disclosure requirements on limited liability companies, or LLCs, similar to those mandated by the federal Corporate Transparency Act (CTA). This makes New York the first state to impose...more

Holland & Knight LLP

New York LLC Transparency Act Update: Finally, Some Clarity

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The New York LLC Transparency Act (NY LLCTA) will become effective as of Jan. 1, 2026, and will require limited liability companies (LLCs) formed, or qualified to do business, in the state of New York to disclose individual...more

Goulston & Storrs PC

New York LLC Transparency Act Update

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Starting January 1, 2026, the New York LLC Transparency Act (the “Act”) will require limited liability companies (LLCs) formed or authorized to do business in the State of New York to disclose information to the NY Department...more

Falcon Rappaport & Berkman LLP

Constitutional Clash: U.S. District Court Landmark Decision Declares the Corporate Transparency Act Unconstitutional

In 2021, Congress passed the Corporate Transparency Act (CTA), which will be administered and enforced by the Financial Crimes Enforcement Network (“FinCEN”) of the United States Treasury Department, in an effort to implement...more

Mintz - Venture Capital & Emerging Companies...

Compliance with the New York LLC Transparency Act Necessary for Many Mintz Clients

Clients with Limited Liability Companies in New York Likely Impacted - New York Governor Kathy Hochul recently signed the New York LLC Transparency Act (NYLTA) into law. The act, which will become effective on December 21,...more

Kohrman Jackson & Krantz LLP

New York’s LLC Transparency Act: What You Need to Know

While federal legislative and regulatory authorities digest and plan their responses to the March 1, 2024 ruling in the U.S. District Court for the District of Alabama that held the federal Corporate Transparency Act (the...more

Ballard Spahr LLP

The CTA at Two Months: Key Updates and Action Items

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After years of anticipation, the Corporate Transparency Act (the CTA) officially went into effect on January 1, 2024. Now that we are two months into the CTA era, below are a few updates and recommended action items based on...more

Orrick, Herrington & Sutcliffe LLP

New York State bill requires disclosure of beneficial owners of limited liability companies

On March 1, a newly enacted bill from New York State, S8059, (the “Act”) was signed by the governor and amended New York State law governing limited liability companies by mandating New York LLCs to file beneficial ownership...more

Foley Hoag LLP

The New York LLC Transparency Act (“NYLTA”) is Coming

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Governor Kathy Hochul signed the law in December 2023 setting out disclosure requirements for limited liability companies (“LLCs”) organized or doing business in New York and creating a database of beneficial owners of New...more

Cadwalader, Wickersham & Taft LLP

Nowhere to Run to Baby, Nowhere to Hide: An Overview of the New York LLC Corporate Transparency Act and Its Disclosure...

If you thought you could hide behind your LLC in this new year, think again. Governor Kathy Hochul signed the New York LLC Corporate Transparency Act (the “Act”), which will go into effect in late 2024....more

Whitman Legal Solutions, LLC

New York LLC Transparency Act Presents Privacy Concerns

During the past few years, there has been increased focus on transparency in corporate law. Concerned that corporations and limited liability companies (LLCs) were used to conceal unlawful activities, in 2020, Congress passed...more

Rivkin Radler LLP

NY’s LLC Transparency Act and NYC Real Estate – Albany Wants to Know the Secrets that You Keep[i]

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A national study released in 2015 reported that “nearly half the residential purchases of over $5 million were made by shell companies rather than named people.”[ii] Because shell companies could often be formed without...more

McCarter & English, LLP

Next Stop, Revalidation Station: CMS Final Rule for Nursing Home Transparency to Prompt Off-Cycle Revalidation, Revised Form...

Nursing facilities should prepare to provide the Centers for Medicare & Medicaid Services (CMS) with additional information about their ownership, their managing employees and the parties providing certain financial and...more

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