News & Analysis as of

Business Formation Beneficial Owner FinCEN

Business formation is the process of establishing a legal entity to carry out a particular entreprise.  The law provides several entity options, each with its own advantages and disadvantages. Limited... more +
Business formation is the process of establishing a legal entity to carry out a particular entreprise.  The law provides several entity options, each with its own advantages and disadvantages. Limited Liability Corporations (LLC), Limited Liability Partnerships (LLP), and S-Corporations are a few examples of available options. When forming a business, founders can choose whichever entity-type best aligns with their specific tax and liability needs and considerations. Other important aspects of forming a business include drafting a comprehensive business plan, choosing appropriate insurance, establishing personnel policies and protecting intellectual property.  less -
Smith Anderson

The Corporate Transparency Act - New Guidance on Reporting Obligations

Smith Anderson on

As discussed in our three prior client alerts, effective as of January 1, 2024, the Corporate Transparency Act (“CTA”) and rules issued thereunder by the Financial Crimes Enforcement Network (“FinCEN”) require most U.S....more

Holland & Knight LLP

The (Uncertain) Application of the Corporate Transparency Act to Tribal Entities

Holland & Knight LLP on

The Financial Crimes Enforcement Network (FinCEN), a unit of the U.S. Department of the Treasury (Treasury Department) charged with administering the Corporate Transparency Act (the CTA), on Aug. 1, 2024, held a Tribal...more

Winstead PC

CTA: Subject to Filing if in Existence January 1, 2024

Winstead PC on

FinCEN provided new guidance on July 8, 2024, regarding the CTA filing requirements of entities dissolved in 2024. If an entity was in existence prior to January 1, 2024, its CTA filing deadline is January 1, 2025....more

Fox Rothschild LLP

New Mandatory Reporting for Vast Majority of Businesses Starts in January 2024

Fox Rothschild LLP on

In less than two weeks, on January 1, 2024, the Corporate Transparency Act (CTA) will become effective. This new law is one of the most wide-reaching and disruptive pieces of legislation affecting businesses that has been...more

McGlinchey Stafford

What Will the Corporate Transparency Act Mean for Your Business? [More with McGlinchey, Ep. 30]

McGlinchey Stafford on

Unless you are an exempt entity, the new Corporate Transparency Act (CTA) will require you to disclose the beneficial owners of your company to the United States government. Businesses will not be required to do so, however,...more

Ballard Spahr LLP

U.K. Regulator Critiques Legal Industry AML Compliance

Ballard Spahr LLP on

In its “Risk Outlook, Autumn Update” (“Update”) released last week, the Solicitor Regulation Authority (“SRA”), a regulator of solicitors and law firms in England and Wales, found that although the legal sector remains at...more

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