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After extensive debate, the New York state Senate and Assembly finished working through the state's several budget bills over the weekend, nearly 3 weeks beyond the April 1 deadline. The spending plan now goes to Governor Kathy Hochul’s desk to be signed into law, which could happen as soon as later this week.Relevant measures in the revised budget include legalizing the sale of to-go alcohol for another five years as well as an expansion of the types of alcohol permitted to be sold in [...]

On February 15, 2024 we previously published a blog post regarding the Corporate Transparency Act (the “CTA”) (original blog).  Since our February blog post, there have been certain developments regarding the CTA which could impact the filing requirements going forward.  On March 1, 2024, Judge Liles C. Burke of the U.S. District Court for the Northern District of Alabama held that the CTA was unconstitutional and enjoined enforcement of the CTA against the plaintiffs in [...]

Posted by: Nicole Green, Michelle Marinello, Timothy Morrison, Scott Shimick and keenan loderTo download a PDF of this article, click here: WOH UPDATE - CORPORATE TRANSPARENCY ACT NOW IN EFFECT.pdfAs follow-up to our Fall 2023 WOH Update, the reporting requirements under the Corporate Transparency Act (the “CTA”) went into effect on January 1, 2024. Below is a summary of key points impacting millions of businesses throughout the United States and beyond. Failure to comply with the [...]

Governor Hochul’s proposed executive budget for fiscal year 2025 (the “Budget”), released on January 16, 2024, includes a number of provisions which, while falling short of proposing sweeping change, should nonetheless have positive impacts on the liquor licensing and permitting process within the state. In 2022, the Commission to Reform the Alcoholic Beverage Control Law (the “Commission”) was formed to vote on whether to recommend changes to state laws to [...]

I. The Corporate Transparency ActWith a goal of preventing money laundering, funding of terrorist organizations, and other illicit activities that may threaten national security, Congress passed the Corporate Transparency Act (“Act”). Under the Act, Reporting Companies are required to report certain information about each Beneficial Owner and, for companies created on or after January 1, 2024, the Company Applicant, to the Financial Crime Enforcement Network of the Department of [...]