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States Addressing Beneficial Ownership Issue to Avoid Federal Intervention
By Matt Squire
printState governments are rallying to preserve their preeminence in incorporating businesses by addressing mounting pressure from the federal government to disclose more information on the true owners of private companies. The National Association of Secretaries of State (NASS) has created a taskforce to seek uniformity among state jurisdictions, with an eye to fending off the creation of a federal standard for incorporation laws. North Carolina Secretary of State Elaine Marshall, who will head the taskforce, said, "I can only say for myself that North Carolina would not be in favor of [a federal standard] and I doubt that any of...
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