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New York s LLC Transparency Act: What You Need to Know | Jones Day

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.

Small business entities must file new Beneficial Ownership Information reports in 2024

Beginning January 1, 2024, most small entities – including single member LLCs – must file online reports with the federal government, disclosing information about the beneficial owners of the entities. This new reporting requirement – estimated to impact at least 32.6 million entities in 2024 – was created by the Corporate Transparency Act (CTA), which was enacted by Congress in 2021.

Transcripts for BBCNEWS BBC World News America 20240604 21:11:00

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