Jesse Scott

Mar 18, 2024 | jdsupra.com | Michael Hickey |Ling Kong |Jesse Scott

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 of State (“NYDOS”) regarding beneficial owners or exemption from the Act.1 Many of the Act’s requirements are based on the federal Corporate Transparency Act (“CTA”), which went into effect on January 1, 2024, to prevent money laundering and promote a Know Your Customer...