NY AG’s Office Submits Comments to IRS Notice 2021-56 on LLCs
On March 10, 2022, the Office of the New York Attorney General, Charities Bureau, submitted comments in response to IRS Notice 2021-56 (the “Notice”). The Notice, which was published on…
One Year Later: Adult Use Legalization in the Northeast
In their latest regular article for Thomson Reuters, Alex Malyshev and Sarah Ganley of the firm’s Cannabis, Hemp & CBD Industry Group survey the current landscape of adult use cannabis…
IRS Issues Notice Regarding Standards for 501(c)(3) Status of Limited Liability Companies
On October 21, 2021, the Internal Revenue Service (the “IRS”) published Notice 2021-56. The Notice sets forth current standards that a limited liability company (“LLC”) must satisfy to receive a…
ICYMI: Virtual Member Meetings Now Permanently Permitted for New York Nonprofits
On November 8, 2021, New York Governor Kathy Hochul signed legislation that permanently allows New York nonprofit corporations with members and religious corporations to hold virtual membership meetings, and nonprofit…