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SBA Proposes To Relax Employee-Based Size Standard

Client Alert | less than 1 min read | 08.03.07

On July 27, 2007, the U.S. Small Business Administration issued a proposed rule to simplify and relax the way in which it determines whether an entity complies with an employee-based size standard. Instead of the current method, which uses a rolling average of the number of employees over the previous 12 months, the proposed method is based on the average number of employees over the last three completed calendar years and will not only require less frequent updates to an entity's size status but also allow a greater number of contractors that have experienced growth in the past several years to still qualify as small.

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Client Alert | 11 min read | 12.15.25

New York LLC Transparency Act: Key Requirements and Deadlines

On January 1, 2026 (“Effective Date”), the New York LLC Transparency Act ("New York Act”) is scheduled to take effect, introducing new disclosure requirements for limited liability companies (“LLCs”) formed or registered to do business in New York State.  The New York Act is expected to impose the type of broad beneficial ownership requirements the federal CTA and rules implementing it was designed to require, before the federal government’s decision to limit the scope of the CTA’s beneficial ownership reporting requirements to foreign companies and foreign beneficial owners....