Do you need to file a BOI report? If you own a small business, the answer is most likely, YES! Tens of millions of small businesses (with 20 or fewer full-time employees and $5 million or less in gross receipts or sales) meet the criteria and, therefore, must submit a BOI Report. Read the in-depth...
The Corporate Transparency Act (CTA) became effective on January 1, 2024. The law was written to create a government database containing the identities and contact information of small business owners - specifically defined small corporate and LLC “beneficial owners.” The beneficial owners are the actual people who own the entity or exercise substantial control over it....Continue reading
If you started a business in 2024 pay attention to these new BOI Report requirements: If, in 2024, you start a small business or buy a rental property using a new limited liability company (LLC), you can trigger the need to file new federal reports and keep them up to date. Take BOI Report Requirements...