Photo of NYC’s Billionaires’ Row in 2020: Wikimedia commons
March 1, 2022
New transparency bill would make it harder for international elites to hide behind LLCs in NY
State Sen. Brad Hoylman and Assembly Member Emily Gallagher on Tuesday introduced legislation that would help shine a light on the money behind Limited Liability Companies (LLCs) and anonymous shell companies. The new bill would help uncover assets of international oligarchs, trace tax evaders and help hold bad landlords accountable by requiring LLCs to disclose to the NYS Department of State the names and addresses of their beneficial owners.
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