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
While the do-it-yourself approach to forming a limited liability company (LLC) can be tempting for cost-conscious entrepreneurs, it’s important to recognize that this strategy may be penny-wise but pound-foolish. The nuances and details involved in forming an LLC can be complex and missing crucial elements may lead to complications down the road. This guide aims … Read more
Founders may form many types of entities, including partnerships and regular corporations (C Corps), but two of the most popular types are limited liability companies (LLCs) and Subchapter S corporations (S Corps). Generally speaking, LLCs and S Corps are entities that allow profits and losses to be passed through to the owners of the entity, … Read more
LLC, a choice / Operating agreement / A necessity / More on LLC operating agreements here.
Entity structure / Limits liability / Care must be taken / More on piercing the corporate veil here.
Your business is organized as a limited liability company, corporation or other entity. Its legal name includes a suffix such as ‘Inc.’ or ‘LLC’. However for marketing or other purposes, you wish to use the name without the suffix. A problem? Yes. Background Individuals, acting by themselves or with a group, are generally responsible for … Read more
THIS POST HAS BEEN SUPERSEDED. Please note the “simple” in the title. Look, I know that you want to save money and do it yourself. But this may be penny-wise and pound-foolish; there are nuances and details you may miss. Think about engaging a lawyer. There are lots of different types of entities and lots … Read more
You and your partners are successfully running your business. After talking to your accountants and lawyers – I am always hopeful – you decided to operate your business as a limited liability company and entered into an LLC operating agreement. This operating agreement governs your relative rights and obligations. I’m fairly certain that your operating … Read more