LOGIN Request a call

← BLOG  |  EMPLOYMENT LAW UPDATES  |  NEWS

New York LLC Transparency Act Amended

22 May

Share
Update Applicable to:Effective date
All Limited Liability Companies formed or doing business in New York (unless exempt)January 1, 2026


What happened?

On March 1, 2024, New York Governor Kathy Hochul signed Bill SB 8059, an amendment that adds three new sections to the New York LLC Transparency Act (NYLTA) law and changes other provisions.


What are the details?

Summary:

  • The NY LLCTA, modeled after the federal Corporate Transparency Act, will require limited liability companies (LLCs) formed, or qualified to do business, in New York State to report their individual beneficial owner information to the New York Department of State (NYDOS).
  • Information reported to the NYDOS will not be accessible to the public.

Changes:

  • The effective date for the NYLTA is January 1, 2026; previously was January 1, 2025.
  • Due dates for filings:
    • For entities formed/registered before January 1, 2026: the latest reporting date is January 1, 2027.
    • For entities formed/registered on or after January 1, 2026: the earliest reporting date will be 30 days January 1, 2026 (previously January 1, 2025).


Business Considerations

  • Review the updated version and plan according to the new dates.
  • Update your practices to file on time (if not exempt) the CTA and the NYLTA: you must comply with both, if applicable.


Source References


Resources

Need help understanding how changes to employment laws will affect your business?

Learn more about how Vensure's New York PEO services can help you navigate complex employment laws and keep your business compliant.


This communication is intended solely for the purpose of conveying information. The present post might incorporate hyperlinks directing readers to websites managed by third-party entities. The inclusion of any links within this communication is meant to serve as points of reference and could encompass opinion articles from various law firms, articles from HR associations, official websites, news releases, and documents of government agencies, and other relevant third-party sources. Vensure has no authority over these external websites and bears no responsibility for their content. Furthermore, Vensure does not endorse the materials present on these websites. The contents of this communication should not be interpreted as legal advice or as a legal standpoint concerning specific facts or scenarios. Nor should it be deemed an exhaustive compilation of facts potentially pertinent to federal, state, or local laws. It is strongly advised that employers solicit legal guidance from an employment attorney when undertaking actions in response to any legal updates provided. This is due to the possibility of future alterations occurring in federal, state, and local laws, regulations, as well as the directives and guidelines issued by governing agencies. These changes may transpire at any given time, potentially rendering certain portions of the content within this update void or inaccurate.

Keep Your Business Compliant

Fill out the form below to receive monthly Employment Law Updates right in your inbox.

Keep Your Business Compliant

Fill out the form below to receive monthly Employment Law Updates right in your inbox.

Amazing!

You're all set.

Thanks for subscribing. Be on the look out for the Legal HR updates in your email.

Tracking Convertion image