A measure that would abolish the use of anonymous limited liability corporations has drawn opposition from some business groups as it awaits action from New York Gov. Kathy Hochul.
August 22, 2023 at 12:58 PM
5 minute read
Litigation Reporter
The original version of this story was published on New York Law Journal
New York would do away with anonymous limited liability companies if its governor signs a bill that’s being carefully watched by business lawyers.
The allowance for anonymous LLCs is described by Democratic sponsors of S995-B/A3484-A as a public policy “mistake that deserves correction,” and passage, they say, would help collect taxes that are owed by hidden real-estate interest holders.
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