The New York LLC Transparency Act (LLCTA) is a new state law that requires limited liability companies (LLCs) that are formed in New York or authorized to do business in New York to report information about their beneficial owners to the New York Department of State.
This requirement is separate from — and in addition to — the federal Corporate Transparency Act (CTA) rules. The New York law applies only to LLCs and is enforced by the State of New York, not the federal government.
This law is designed to make LLC ownership more transparent and prevent fraud, money laundering, and other financial crimes.
