News & Analysis as of

Tax Exempt Entities Nonprofits Limited Liability Company (LLC)

Rivkin Radler LLP

NYC Transfer Tax, Charities, and Single Purpose LLCs – Are Lenders Beneficiaries?

Rivkin Radler LLP on

According to the New York City Comptroller, the City collected approximately $1.13 billion in Real Property Transfer Tax (“RPTT”) in the FY 2024. The Comptroller’s Office has forecast that $1.21 billion of RPTT will be...more

Rivkin Radler LLP

Business Owner Borrows from Their Private Foundation – A Different Form of “For Profit Philanthropy”?

Rivkin Radler LLP on

Many successful business owners attribute some part of their success to their community. For some of these owners, it is not enough to simply acknowledge this “debt”; they feel an obligation to share some of their financial...more

Bond Schoeneck & King PLLC

Most LLC Subsidiaries of Nonprofits Exempt From New York’s LLC Transparency Act, but Exemption is NOT Automatic

Quick Overview: The New York LLC Transparency Act (NYLTA) is a new law requiring limited liability companies (LLCs) to annually disclose detailed information about their owners to the Department of State. Most LLCs that are...more

Bradley Arant Boult Cummings LLP

FinCEN Issues Final Rule Requiring Private Companies to Report Ownership

On September 29, 2022, the United States Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a final rule requiring millions of private companies to report their ownership to the United States...more

Miller Nash LLP

IRS Issues (and Seeks Comments on) Standards for Qualifying an LLC as a 501(c)(3) Entity

Miller Nash LLP on

Traditionally, an entity applying for tax exempt status under Code Section 501(c)(3) will be a corporation. With the rise in popularity of the LLC over the last 25 years, it’s a wonder that LLCs are not used more frequently...more

Poyner Spruill LLP

FTC Applies Antitrust Non-Profit Exemption to Physician Organization Affiliate of Non-Profit Hospital

Poyner Spruill LLP on

Many North Carolina hospital systems have separate business corporations or limited liability companies to house the physician component of their integrated health care delivery systems. Hospitals may take this step for any...more

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