Thought Leadership

IRS Issues Notice Regarding Standards for 501(c)(3) Status of Limited Liability Companies

April 22, 2022/TEO BULLETIN/2 minute read

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…

Thought Leadership

ICYMI: Virtual Member Meetings Now Permanently Permitted for New York Nonprofits

April 4, 2022/TEO BULLETIN/2 minute read

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…