Congress re-examines bill that would expose beneficial owners of LLCs

A bill that would require anonymous LLCs to disclose their beneficial owners is back on the table. Congresswoman Carolyn Maloney, of New York’s 12th congressional district, presented a draft of the Corporate Transparency Act of 2019 during a congressional hearing on Wednesday. Under the bill, corporations and LLCs would be required to disclose their beneficial owners to the Financial Crimes Enforcement Network, or FinCEN, which would then share that information with law enforcement and financial […]

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