Stroock Special Bulletin
"New York State 2008 Tax Law Changes Affect LLC and LLP Filings Due By January 30th For Calendar Year Filers"
New York State has long imposed an entity-level fee based on the number of members and, except for a brief period, did not impose this fee, or any filing requirement, on disregarded entities. Recently, however, New York changed its treatment of LLCs and LLPs. Tax Law Sections 658 and 1304-C were amended in 2008 to change the reporting and fee requirements for LLCs and LLPs for tax years beginning on or after January 1, 2008. These changes will first affect filings due in 2009 regarding 2008.