New York’s LLC Transparency Act and Other Beneficial Ownership Information

Expert Insights has a podcast series on helping small businesses understand how to comply with the Corporate Transparency Act (CTA) and its Beneficial Ownership Information (BOI) reporting requirements.  

The State of New York has its own rules for reporting beneficial ownership information. So how much similarity is there between the CTA and the New York regulations and what additional rules do you need to comply with in the Empire State?

CT Corporation Director of Compliance and Government Relations David Spencer walks us through the nuances of the New York law. He also highlights guidance from the Financial Crimes Enforcement Network (FinCEN) on how dissolved businesses should approach the federal beneficial ownership requirements. And he examines FinCEN's advice about the use of tax identification numbers for disregarded entities.

For more information and resources:
https://www.wolterskluwer.com/en/solutions/bizfilings/bfi-beneficial-ownership-information