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t. e. A limited liability company (LLC) is the United States -specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. [1] An LLC is not a corporation under the laws of every state; it is a legal form of ...
New York (state) Enacted by. New York State Legislature. Enacted. 1890. Status: In force. The New York Business Corporation Law is the primary corporation statute in the State of New York. It is an influential model in U.S. corporate law. It is chapter 4 of the Consolidated Laws of New York, originally enacted as chapter 567 of the Laws of 1890.
The New York State Constitution, Art.X, sec. 5, provides that public benefit corporations may only be created by special act of the legislature. In City of Rye v. MTA, 24 N.Y.2d 627 (1969), the court of appeals explained that "The debates of the 1938 Convention indicate that the proliferation of public authorities after 1927 was the reason for the enactment of section 5 of article X....
The Uniform Limited Liability Company Act (ULLCA), which includes a 2006 revision called the Revised Uniform Limited Liability Company Act, is a uniform act (similar to a model statute), proposed by the National Conference of Commissioners on Uniform State Laws ("NCCUSL") for the governance of limited liability companies (often called LLCs) by U.S. states.
t. e. A low-profit limited liability company (L3C) is a legal form of business entity in the United States. [ 1 ] Commonly referred to as a hybrid structure, it has characteristics of both for-profit and non-profit entities. [ 1 ] L3Cs were created to comply with the Internal Revenue Service (IRS) program-related investments (PRIs) rules which ...
The New York State Department of Taxation and Finance (NYSDTF) is the department of the New York state government [1] responsible for taxation and revenue, including handling all tax forms and publications, and dispersing tax revenue to other agencies and counties within New York State. The department also has a law enforcement division, the ...
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