To Disclose, or Not to Disclose, That Is the Question: An Introduction to the NY LLC Transparency Ac

Business entities coming to understand the requirements of the Federal Corporate Transparency Act (“Federal CTA”) and its reporting obligations should be aware that New York State has enacted a LLC Transparency Act (“NY Act”). This is of particular importance to real estate companies which make frequent use of LLCs to hold real estate. The NY Act will require all limited liability companies formed or registered to do business in New York State (“NY LLCs”) to make a filing with the New York Department of State (“DOS”).

To read more, visit www.sherin.com/real-estate/2024/04/22/to-disclose-or-not-to-disclose-that-is-the-question-an-introduction-to-the-ny-llc-transparency-act/.