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2024-04-20

【Cross-Border Tax】

US: New York compels LLCs to disclose beneficial ownership information, but will not publish it

On 23 December 2023, the New York State governor signed into law new legislation that will require all limited liability companies (LLCs) to disclose their beneficial owners to the New York Department of State. An earlier version of the law would have required public disclosure of the information, but this was struck out just before the governor signed it. The law will become effective on an undetermined date in 2024. The information to be reported is essentially the same as that required by the federal Corporate Transparency Act.


News Source:【Duane Morris 2024/01/09】

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