NY Bill to Unveil Owners Behind LLCs Sent to Governor’s Desk

Gov. Kathy Hochul (D) will soon decide whether to make New York the first state to publicly identify the owners behind limited liability companies.

• The legislation, A3484A, was delivered to the governor’s desk for her signature on Tuesday. She now has 10 days, not counting Sundays, to either sign or veto it. The bill will automatically become law if she doesn’t take action.
• The bill would require LLCs to list their beneficial owners and other identifying information, such as their business street address. The information would be available on a public searchable database, though entities with “significant privacy ...