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...
On January 1, 2024, the Corporate Transparency Act (CTA) went into effect. The CTA requires most smaller corporations, most limited liability companies, and some other business entities to file a beneficial ownership information (BOI) report with the U.S. Department of the Treasury Financial Crimes Enforcement Network (FinCEN). The BOI report identifies and provides contact information...Continue reading
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