Gov. Hochul Signs LLC Transparency Act

Limited liability companies in New York will be required to report names of their beneficial owners under a new state law signed by Gov. Kathy Hochul. Following negotiations on the bill, names of LLC owners will only be accessible by state regulators and law enforcement rather than a public database. According to state lawmakers, the measure is aimed at preventing wage theft and holding accountable landlords who refuse to properly maintain their buildings, among others. Learn more.