D.C. Council approves bill to unmask individuals behind all LLCs

The D.C. Council unanimously approved a bill that requires major disclosures from individuals with ownership interests in any limited liability corporation in the District, a move expected to create sweeping implications for the business community.

The bill requires any individual with at least a 10 percent interest or authority to make financial or day-to-day decisions to be disclosed on LLC business filings.

LLCs in the District are currently required to only provide information about the registered…

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