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Every corporation organized for profit and carrying out any of the purposes of its organization is deemed to be doing business for purposes of the tax. In determining whether a corporation is doing business, it is immaterial whether its activities actually result in a profit or a loss.
What is local law 34?
Local Law 34 of 2007 (LL 34) is a campaign finance reform law that limits municipal campaign contributions from principal officers, owners and senior managers of entities considered to be doing business with the City. The Law mandates the creation of a Doing Business Database to allow the City to enforce the law.
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