Sentences with phrase «treats limited liability companies»

One example is how the State Board treats Limited Liability Companies.

State elections law treats limited liability companies, which are essentially paper companies that have their own bank accounts, as separate entities from their parent corporations.

He wants to create a public financing system, limit donations to housekeeping committees to $ 25,000, require bimonthly instead of semiannual disclosure, and close the «LLC loophole» that treats limited liability companies as individuals for the purpose of determining contribution limits.

These developers frequently gave through use of the «L.L.C. loophole,» which treats limited liability companies as individuals for the purpose of calculating contribution limits.

Not exact matches

Limited Liability Companies (LLCs) are used by a wide variety of industries to circumvent the $ 5,000 annual corporate contribution limit in New York State campaign finance law, relying on the New York State Board of Elections» 1996 determination to treat LLCs as individuals, subject to a $ 150,000 annual contribution limit.

The quirk in election law emerged from a 1996 state Board of Elections ruling that determined that each limited liability company controlled by a developer should be treated as if it were an individual under election law.

Because of a 1996 State Board of Elections ruling, limited liability companies are treated as individuals rather than corporations in New York.

Limited Liability Corporations (LLC) are treated like individuals, so if the company in question is an LLC, Jacobs can contribute $ 150,000.

Each of Cuomo's proposals requires limited liability companies be treated as traditional corporations, which would cap contributions at $ 5,000, according to the administration's release.

Last year, Cuomo raised the issue of the «LLC loophole» — in which limited liability companies are treated as individuals for the purpose of calculating contribution limits — when laying out an ethics ultimatum to the Legislature.

Partnerships must file Form 65 if the business is a partnership transacting business in Idaho, or is a Limited Liability company treated as a partnership for federal purposes and transacting business in Idaho.