The New York LLC Transparency Act:  It’s Scope and Reporting Requirements 

This CLE program provides a comprehensive overview of the New York LLC Transparency Act (the Act) that became effective on January 1, 2026, and currently applies to LLCs formed outside of the US and authorized to transact business in New York.  The program explains the intent of the Act, its interplay with the federal Corporate Transparency Act (the CTA) and how the narrowed scope of the beneficial ownership reporting requirements under the CTA impacts the Act.  It addresses key definitions including “LLC’s formed outside of the US”, “beneficial owner” and “applicant”, along with the Act’s exemptions. The program will cover who must report beneficial ownership information under the Act, what information must be reported, along with what needs to be filed if a reporting company is exempt.  Attendees will learn what remains ambiguous under the Act, the deadlines for reporting, and the consequences of non-compliance. The program will also address concerns regarding protecting personal identifiable information (PII) of beneficial owners and applicants.

CLE Hours = 1 Non-Substantive