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Small Business Shell Corporations Beneficial Owner

UB Greensfelder LLP

Corporate Transparency Act Update

UB Greensfelder LLP on

On March 1, 2024, the U.S. District Court for the Northern District of Alabama, Northeastern Division published an opinion finding that the Corporate Transparency Act (the “CTA”) is unconstitutional as exceeding the U.S....more

Venable LLP

Alabama Federal District Court Declares CTA Unconstitutional: Here's What You Need to Know

Venable LLP on

The Corporate Transparency Act (CTA), which became effective on January 1, 2024, was enacted to combat the use of shell companies by those seeking to evade anti-money laundering laws and economic sanctions. ...more

Hendershot Cowart P.C.

Small Business Owners: New Federal Reporting Requirements Start January 1

Hendershot Cowart P.C. on

Beginning January 1, 2024, most small businesses in the United States will have to report information about the people who own and control the business to the federal government. This new reporting rule was established by...more

Foodman CPAs & Advisors

The FinCEN Identifier

On September 29, 2023, FinCEN updated the FAQs regarding Beneficial Ownership Information (BOI) Reporting, including guidance on the FinCEN identifier. The FinCEN’s BOI FAQs work in tandem with the FinCEN’s BOI Small...more

White & Case LLP

The Anti-Money Laundering Act of 2020—Expanding Anti-Money Laundering Reporting Responsibilities to Small Businesses

White & Case LLP on

As 2020 closed, Congress passed the annual National Defense Authorization Act, which embedded an unrelated set of provisions called the Anti-Money Laundering Act of 2020 ("AMLA-2020" or "the Act"). AMLA mandates disclosures...more

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