New York’s LLC Transparency Act: Major Update
SUMMARY Governor Hochul’s December 22, 2025 veto of Senate Bill 8432 limits New York’s LLC Transparency Act to only foreign LLCs registered in New York. Domestic U.S. LLCs are exempt. Foreign LLCs must disclose beneficial owners (25%+ ownership or substantial control) by December 31, 2026, with penalties up to $500 daily for noncompliance. The New … Read more