New York Governor Vetoes Entity Transparency for Domestic Companies

On December 19, 2025, the New York state governor, Kathy Hochul, vetoed a bill that would have obligated domestic (i.e., United States) companies operating in the state of New York to file their beneficial ownership information by January 1, 2027. New York law will remain in sync with the U.S. Corporate Transparency Act (the CTA). The latter obligates only foreign limited liability companies (LLCs) operating in the state to report their beneficial owners.