NY Governor Must Soon Act on Bill to Expose LLC Owners
Talking Tax8 Marras 2023

NY Governor Must Soon Act on Bill to Expose LLC Owners

The clock is ticking on Gov. Kathy Hochul (D) to take action on legislation that would make New York the first state to publicly list the owners behind limited liability companies. The bill, A3484A, would require LLCs to disclose their beneficial owners and other identifying information, such as their business street address. Those who fail to comply for more than two years would be shown as “delinquent” on state records and subject to a $250 penalty. Entities with “significant privacy interests” could apply for a waiver to not appear in the state registry. On this episode of Talking Tax, Bloomberg Tax spoke with state Sen. Brad Hoylman-Sigal, the Manhattan Democrat who sponsored the bill, and Chelsea Lemon, director of government affairs for the Business Council of New York, which opposes the legislation. "The LLC Transparency Act doesn't minimize or alter the legal structure or protections of LLCs, but it provides necessary transparency for the public's benefit, as well as our law enforcement," Hoylman-Sigal said. Other proponents, including state Attorney General Letitia James and Comptroller Thomas DiNapoli, have said the opaque structure of LLCs allow corrupt actors to hide their financial dealings and contribute to issues like tax evasion and money laundering. Opponents, such as real estate groups, have raised privacy concerns with it and said it will hurt the state's economic competitiveness. A spokesperson for Hochul said she's "reviewing the legislation." She has until Dec. 31 to act on the bill. Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.

Jaksot(432)

Hill Roundtable- Episode 37- GOP Hopeful Tax Plan Details Will Drive Reform Efforts

Hill Roundtable- Episode 37- GOP Hopeful Tax Plan Details Will Drive Reform Efforts

House Ways and Means Committee Chairman Kevin Brady (R-Texas) said details of the GOP's new tax reform plan will be revealed the week of Sept. 25. Reporters Colleen Murphy and Laura Davison spoke wit...

18 Syys 20177min

Hill Roundtable- Episode 36- Midterm Election Deadline Looms Over Tax Reform Efforts

Hill Roundtable- Episode 36- Midterm Election Deadline Looms Over Tax Reform Efforts

House Ways and Means Committee Chairman Kevin Brady (R-Texas) and House Speaker Paul D. Ryan (R-Wis.)are confident that tax reform will be passed this year. Reporters Colleen Murphy and Laura Davison...

11 Syys 20177min

Hill Roundtable- Episode 35- GOP Takes Tax Reform Campaign on the Road

Hill Roundtable- Episode 35- GOP Takes Tax Reform Campaign on the Road

House Speaker Paul D. Ryan (R-Wis.) and House Ways and Means Committee Chairman Kevin Brady (R-Texas) are taking their pitch for tax reform across the country. Reporter Kaustuv Basu spoke with Talkin...

25 Elo 20175min

Portfolio Podcast- The Minefields of Estate Planning and Carried Interest

Portfolio Podcast- The Minefields of Estate Planning and Carried Interest

Navigating the complexities of estate planning with carried interest can quickly become a daunting task. N. Todd Angkatavanich, David A. Stein, and Andrew Haave of Withers Bergman LLP authored a Bloo...

17 Elo 201720min

Hill Roundtable- Episode 33- Looking Ahead to Post-Recess Tax Reform Action

Hill Roundtable- Episode 33- Looking Ahead to Post-Recess Tax Reform Action

Senate Finance Committee Chairman Orrin G. Hatch (R-Utah) says Republicans will "hit the rich" in tax reform. Reporters Kaustuv Basu and Colleen Murphy spoke with Talking Tax host Matthew Beddingfiel...

7 Elo 20176min

Tax & Accounting Podcast- Episode 32- GOP Plans Next Move After Health Care Bill Collapse

Tax & Accounting Podcast- Episode 32- GOP Plans Next Move After Health Care Bill Collapse

Senate Republicans failed to repeal the Affordable Care Act last week, but efforts to pass health care legislation may not be over yet. Reporters Laura Davison, Kaustuv Basu, and Colleen Murphy spoke...

31 Heinä 20176min

Tax & Accounting Podcast- Episode 31- House Budget Faces Challenges Out of the Gate

Tax & Accounting Podcast- Episode 31- House Budget Faces Challenges Out of the Gate

The House fiscal year 2018 budget resolution, which is the key to the GOP's full tax reform package, is facing difficulties as moderate and conservative Republicans have already attacked the measure. ...

21 Heinä 20178min

Tax & Accounting Podcast- Episode 26- Draft Health Care Bill Faces Compromises Before Vote

Tax & Accounting Podcast- Episode 26- Draft Health Care Bill Faces Compromises Before Vote

The Senate is likely to vote the week of June 26 on a draft health care bill that would repeal the Affordable Care Act's taxes. Senate Republicans are working to compromise on various aspects of the ...

23 Kesä 20178min

Suosittua kategoriassa Politiikka ja uutiset

uutiscast
aikalisa
politiikan-puskaradio
ootsa-kuullut-tasta-2
rss-ootsa-kuullut-tasta
rss-vaalirankkurit-podcast
tervo-halme
viisupodi
rss-podme-livebox
et-sa-noin-voi-sanoo-esittaa
rss-asiastudio
otetaan-yhdet
rikosmyytit
the-ulkopolitist
radio-antro
rss-girls-finish-f1rst
rss-kaikki-uusiksi
rss-raha-talous-ja-politiikka
rss-tasta-on-kyse-ivan-puopolo-verkkouutiset
rss-mina-ukkola