The National Federation of Independent Business (NFIB) has used its “Small Business Rundown” podcast to bring attention to new beneficial ownership reporting requirements that could affect small businesses in New York. Although such requirements are currently paused nationwide, New York lawmakers have moved forward with their own state-level mandate. This legislation would require small businesses to submit personally identifiable information to the New York Department of State.
In the 75th episode of the podcast, NFIB State Region Director Greg Biryla and NFIB Director of Federal Government Relations Josh McLeod discussed the potential effects of this bill and ways for business owners to respond. The measure is now awaiting a decision from Governor Kathy Hochul.
NFIB, which represents more than 11,000 members in New York, has started a statewide digital and print advertising campaign aimed at informing and mobilizing small business owners against the proposed “Beneficial Ownership” information reporting rule. The campaign includes a dedicated website at ProtectNYSmallBusiness.org that provides further details about the legislation and its possible negative consequences for small businesses.
According to NFIB, “The Small Business Rundown podcast offers small business owners an inside source in Washington, D.C. and the nation’s state capitals. Host Adam Temple and guests discuss and analyze the current issues and news that directly affect small businesses across the nation, including policies and programs, taxes and mandates, Supreme Court cases, and more.”
