Question 1

What is the State Transparency Report Kit?

Accepted Answer

A planned kit that maps entity details to the state-level transparency disclosure laws that apply. Federal BOI filing for US domestic companies ended under FinCEN's 2025 interim rule, and states are filling the gap — New York's LLC Transparency Act is enacted, and similar bills are proposed in other states. The planned kit (not on sale yet) will identify which duties apply and cite the controlling statutes.

Question 2

Is federal BOI filing still required?

Accepted Answer

No for US domestic companies. FinCEN's interim final rule (March 2025) removed domestic companies from the Corporate Transparency Act's beneficial-ownership reporting requirement; only certain foreign companies remain in scope. State-level transparency laws are a separate matter — New York's LLC Transparency Act (NY LLC Law § 1106) is enacted and phases in from January 1, 2026.

Question 3

Which states currently have transparency disclosure laws?

Accepted Answer

As of this writing, New York's LLC Transparency Act is enacted (effective January 1, 2026 for newly formed LLCs; January 1, 2027 for existing ones). Disclosure bills have been proposed in other states — including California- and DC-style proposals — but are not enacted law. Check each state's enacted text before relying on it; proposed bills impose no duty until enacted.

Question 4

What information does a state transparency disclosure typically require?

Accepted Answer

State transparency acts generally follow the beneficial-ownership model: for each individual owning 25%+ or exercising substantial control, expect to disclose name, address, and identifying details. Exact requirements vary by state — read the controlling statute for your formation state.

State Transparency Report Kit

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