NEWS
Background:
The New York Limited Liability Company Transparency Act (“NY LLCTA”), which was modeled after the Corporate Transparency Act (“CTA”), is set to take effect on January 1, 2026. The NY LLCTA, originally signed into law on December 23, 2023, and amended on March 1, 2024, imposes new reporting obligations on certain LLCs. If you own, manage, control, or plan to form a limited liability company either in New York or registered to do business as a foreign LLC in New York, this legislation will create reporting obligations about who owns and controls your company. LLCs formed or registered on or after January 1, 2026, must file a Beneficial Ownership Information (“BOI”) report or attestation of exemption within 30 days of formation or registration. LLCs formed or registered before January 1, 2026, have until January 1, 2027, to submit their initial filing with the New York Department of State (“NYDOS”).
NEWS
In an early October Employment Law Update, we advised that the Equal Employment Opportunity Commission (EEOC), Department of Labor (DOL), and National Labor Relations Board (NLRB) had largely ceased operations due to the federal shutdown, with wide-ranging effects on investigations, union elections, and employer-facing services. With the federal government now fully operational after a 43-day shutdown, employers should prepare for rapid normalization across agencies, as well as renewed enforcement and several policy inflection points likely to affect compliance planning through the remainder of the year.