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Limited Liability Company (LLC) New Legislation

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

Troutman Pepper

New York LLC Transparency Act Enacted … Again

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On March 1, New York Governor Kathy Hochul signed a new version of the New York LLC Transparency Act (NYLTA) into law, repealing the original version enacted in December 2023. The new NYLTA pushes back the law’s effective...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

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

Sheppard Mullin Richter & Hampton LLP

Amendment to China’s Company Law (1): Contribution of Capital and Authorized Capital Concept

China’s Company Law was initially enacted in 1993, and was subsequently amended in 1999, 2004, 2013, 2018, and 2005. On December 29, 2023, the Standing Committee of the National People’s Congress approved a comprehensive...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

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

Sullivan & Worcester

Key Changes in China's Company Law which is Reshaping the Business Landscape for Foreign Investors, including Retroactive...

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The amended Company Law of the People's Republic of China (“the New Company Law”) was adopted by the National People's Congress of China and published on December 29, 2023, effective on July 1, 2024. This new legislation...more

Lowenstein Sandler LLP

Leading National Trend, California Enacts Sweeping Climate-Disclosure Laws

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On Oct. 7, California Gov. Gavin Newsom signed into law two bills—Senate Bill 253 and Senate Bill 261—that will require thousands of public and private companies doing business in California to make broad disclosures of...more

Allen Matkins

A Little Big Change For Articles Of Organization Of California LLCs

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In 2022, the California legislature amended several provisions of the California Revised Uniform Limited Liability Company Act, including Section 17702.01 which lists what must be included in the articles of organization of a...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Arkansas Businesses Should Prepare for New Laws Passed by the State Legislature

The Arkansas General Assembly adjourned from its 94th Regular Session on May 1, 2023, starting a 90-day clock until acts passed by the General Assembly become the law of Arkansas. Business owners, professionals and...more

Polsinelli

Utah Passes Innovative DAO Legislation

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On March 1, 2023, the Utah Legislature passed HB 357, the “Utah Decentralized Autonomous Organizations” Act (the “Utah DAO Act”). This was a combined effort of the Utah Legislature’s Blockchain and Digital Innovation Task...more

Snell & Wilmer

California Corporate Conversion Statute Expanded

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On September 2, 2022, California Governor Gavin Newsom signed SB 49 into law, amending California Corporations Code §1151 (Cal. Corp. Code §1151) to allow domestic corporations to convert into foreign entity types as of...more

Stinson LLP

New Missouri Law Requires LLCs to Register Before Making Political Contributions

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On August 28, 2022, a new Missouri statute governing political contributions by limited liability companies (LLC) will take effect. Missouri law currently permits individuals to make campaign contributions to candidates but...more

Bracewell LLP

New Saudi Companies Law 2022: Key changes, and next steps for Companies in KSA

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On 28 June 2022, the Saudi Cabinet of Ministers approved the New Companies Law, and it was published in the official gazette (Umm Al Qura newspaper) on 4 July 2022 pursuant to Royal Decree No. (M/132) dated 01/12/1443H (the...more

Keating Muething & Klekamp PLL

Revised Ohio LLC Statute

The Ohio Revised Limited Liability Company Act (“LLC Act”) took effect on February 11, 2022, and now governs all limited liability companies formed under Ohio law. The LLC Act replaced Chapter 1705 of the Ohio Revised Code...more

Steptoe & Johnson PLLC

Significant Changes for Ohio Limited Liability Companies Under New Ohio Law

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Limited liability companies (LLCs) in Ohio are facing significant changes with a new law, the Ohio Revised Limited Liability Company Act (the Act). The Act becomes effective soon on February 11, 2022. By replacing existing...more

Miller Canfield

Michigan Pass-Through Entity Tax Enacted - Quick Action May Be Needed for 2021

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Michigan Gov. Gretchen Whitmer signed legislation on December 20, 2021, allowing Michigan pass-through entities to elect to pay a newly enacted 4.25% income tax and for the owners of those entities to claim a tax credit...more

Morgan Lewis

Russia Amends Federal Law on Joint Stock Companies to Address COVID-19 Emergency

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The Russian parliament urgently passed a new law on 14 March that amends the Federal Law on Joint Stock Companies (the JSC Law) to allow shareholder meetings in 2020 to be conducted by absentee voting if the agenda includes...more

Flaster Greenberg PC

NJ Passes New Workaround Rule for SALT Deductions

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On January 13, 2020, New Jersey Governor Phil Murphy signed into law the “Pass-Through Business Alternative Income Tax Act” (the Workaround Act). The Workaround Act establishes an elective entity level tax on an individual’s...more

Sheppard Mullin Richter & Hampton LLP

New York Targets Members of Out-of-State LLCs in New Wage Theft Bill

Effective February 10, 2020, the top ten members of an out-of-state limited liability company (“LLC”) can be held personally liable for violations of New York’s wage and hour laws. The bill, signed on December 12 by Governor...more

Seyfarth Shaw LLP

New York Extends Liability for Wage & Hour Violations to Top Ten Members of Out-of-State LLC’s

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Seyfarth Synopsis: A newly enacted New York State law will hold the top ten members of out-of-state LLCs personally liable for unpaid wages.  This new law is one of several key wage and hour proposals originally advanced by...more

Lowndes

Lowndes Client Corner Podcast Episode 5 - Winter Park Distilling Company Brews One-Of-A-Kind Facility in Winter Park

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Dan McIntosh talks with Andrew Asher and Paul Twyford, founders of the Winter Park Distilling Company, a Central Florida distiller of spirits, including Dog Island Rum, Genius Vodka and Bear Gully Classic Whiskey. Andrew and...more

Snell & Wilmer

Let Me Tell You ALLCA Bout It: Arizona Adopts ALLCA to Fill Gaps and Create Uniformity Amongst Arizona LLCs

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Arizona Governor Doug Ducey signed SB 1353 into law on April 10, 2018, repealing Arizona’s previous LLC laws and replacing them with the new Arizona Limited Liability Company Act—colloquially known as ALLCA.1 ALLCA becomes...more

Buckingham, Doolittle & Burroughs, LLC

LLC Operating Agreements And Partnership Agreements Should Be Amended To Address New Law

If you signed an LLC operating or partnership agreement prior to January 1, 2018, it may need to be amended to accommodate a significant new rule regarding taxation of partnerships. Effective for tax years beginning after...more

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