News & Analysis as of

Limited Liability Company (LLC) U.S. Treasury

Fox Rothschild LLP

Corporate Transparency Deadline Rapidly Approaching for New York LLCs

Fox Rothschild LLP on

The U.S. Department of the Treasury decided in March to suspend enforcement of the federal Corporate Transparency Act (CTA), but limited liability companies (LLCs) formed or authorized to do business in New York state still...more

Rivkin Radler LLP

The Status of the Corporate Transparency Act – It’s Not Clear

Rivkin Radler LLP on

Few would argue that the federal government does not have a legitimate interest in preventing, detecting, and punishing tax fraud, money laundering, and other financial crimes. Likewise, I imagine few would disagree with the...more

Rivkin Radler LLP

FinCEN Engages in Outreach as CTA Deadline Looms

Rivkin Radler LLP on

By January 1, 2025, millions of existing businesses must have filed certain information with the Financial Crimes Enforcement Network (FinCEN) to remain in compliance with the Corporate Transparency Act (CTA). As this...more

Tonkon Torp LLP

Corporate Transparency Act Filing Deadline Is Fast Approaching

Tonkon Torp LLP on

December 31 is less than six weeks away. For most, this time of year is steeped in tradition and holiday cheer. We make lists and check them twice. As you make your lists this year, do not forget about the beneficial...more

Rivkin Radler LLP

Choice of Entity for a U.S. Business- Passthrough Status Matters Beyond the U.S. Border

Rivkin Radler LLP on

Decisions, Decisions - The owners of a closely held U.S. business will have to make many difficult decisions during the life of the business. Among the earliest of these is the so-called choice of business entity, the...more

Proskauer Rose LLP

Deadline Approaches: FinCEN’s Rules for Beneficial Ownership Reporting under the Corporate Transparency Act

Proskauer Rose LLP on

The Corporate Transparency Act (the “CTA”) requires a range of entities, primarily smaller, otherwise unregulated companies, to file a report with the U.S. Department of the Treasury’s Financial Crimes Enforcement Network...more

Farella Braun + Martel LLP

The IRS Is Targeting Partnership Transactions: Is Your Representative Ready?

Earlier this week, Treasury and the IRS issued guidance to halt the use of partnership rules in the Internal Revenue Code to engage in abusive basis-shifting transactions whereby tax basis is stripped from certain assets and...more

Rivkin Radler LLP

“C’mon Man! Tax the Rich!” Business Owners Face Tax Increases*

Rivkin Radler LLP on

Last week, Sen. Warren reintroduced her “Ultra-Millionaires” wealth tax proposal to the Senate. Query her timing. The measure has the proverbial snowball’s chance in Hell of being enacted by this Congress.Perhaps the Senator...more

Falcon Rappaport & Berkman LLP

Constitutional Clash: U.S. District Court Landmark Decision Declares the Corporate Transparency Act Unconstitutional

In 2021, Congress passed the Corporate Transparency Act (CTA), which will be administered and enforced by the Financial Crimes Enforcement Network (“FinCEN”) of the United States Treasury Department, in an effort to implement...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Business Owner Alert: Corporate Transparency Act Requires New Ownership Reporting in 2024 and Beyond

It has been many years in the making, but the effective date of the Corporate Transparency Act (the “CTA”) is finally here. The CTA, enacted in 2021, is designed to prevent money laundering and other unlawful activity...more

Fox Rothschild LLP

NY State's New Transparency Law Targets LLCs

Fox Rothschild LLP on

New York is poised to impose its own set of disclosure requirements on certain businesses later this year with a new law that mirrors the federal Corporate Transparency Act (CTA). In December, Gov. Kathy Hochul signed into...more

Rivkin Radler LLP

NY’s LLC Transparency Act and NYC Real Estate – Albany Wants to Know the Secrets that You Keep[i]

Rivkin Radler LLP on

A national study released in 2015 reported that “nearly half the residential purchases of over $5 million were made by shell companies rather than named people.”[ii] Because shell companies could often be formed without...more

Proskauer - Regulatory & Compliance

CTA – The Large Operating Company Exemption – Not Everybody Can Be A “Big BOI”

In 2021, the Corporate Transparency Act (the “CTA”) was enacted into U.S. federal law as part of a multi‑national effort to rein in the use of entities to mask illegal activity. The CTA directs the U.S. Department of the...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

Cozen O'Connor

Important Information Regarding U.S. Corporate Transparency Act / 美国企业透明法重要信息

Cozen O'Connor on

A new regulation under the federal Corporate Transparency Act (CTA) that, for the first time, will require disclosure of information about all U.S. formed corporations, limited liability companies, and limited partnerships...more

Kohrman Jackson & Krantz LLP

FinCEN Releases Small Entity Compliance Guide

Starting in 2024, many entities that are created in or registered to do business in the United States will be required to file BOI reports with FinCEN. With the effective date fast approaching, criticism surrounding...more

Warner Norcross + Judd

The Corporate Transparency Act Becomes Effective January 1, 2024: Here’s How You Can Prepare

Warner Norcross + Judd on

Beginning January 1, 2024, the Corporate Transparency Act (CTA) will require a substantial number of closely held entities to disclose certain information to the U.S. Treasury Department’s Financial Crimes Enforcement Network...more

Lowenstein Sandler LLP

The New Jersey Business Corporation Act to Permit Corporate Conversions/Domestications

Lowenstein Sandler LLP on

Effective November 4, 2023, the New Jersey Business Corporation Act (the Act) will be amended to permit conversions and domestications across all business entity types, including foreign and domestic corporations. The delay...more

Quarles & Brady LLP

Preparing for the Corporate Transparency Act: What you should be doing now

Quarles & Brady LLP on

Although you have probably been bombarded with news about the Corporate Transparency Act which is set to take effect on January 1, 2024, its actual impact for most operational companies in the U.S. will likely be...more

ArentFox Schiff

The Corporate Transparency Act: What Family Offices Need to Know

ArentFox Schiff on

Family offices routinely create, manage, and invest in multiple entities, including corporations, limited liability companies, and partnerships. For entities formed or operating in the United States, there has never been a...more

Levenfeld Pearlstein, LLC

You Say Prĭvacy and I Say Prīvacy: Tips to Take Away

Increasing demand for transparency and tax rules focused on the ownership of foreign financial accounts and interests in foreign trusts and entities affect private wealth planning. There are steps you can take to comply with...more

Foster Garvey PC

A Narrow Aspect of the Check-the-Box Regulations that Deserves Some Press – Changing an Entity’s Tax Classification From That of a...

Foster Garvey PC on

More than two decades ago, the Service announced its intention to consider simplifying the entity classification rules in Notice 95-14. It stated: “The Internal Revenue Service and the Treasury Department are considering...more

Wilson Sonsini Goodrich & Rosati

New Rules Will Require Beneficial Ownership Reporting to Federal Regulators by U.S. and Foreign Corporations, LLCs, and Other...

On December 8, 2021, the Treasury Department's Financial Crimes Enforcement Network (FinCEN) published its proposed regulations on beneficial ownership information (BOI) reporting requirements. These FinCEN regulations will...more

McDermott Will & Schulte

Weekly IRS Roundup October 18 – October 22, 2021

McDermott Will & Schulte on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of October 18, 2021 – October 22, 2021... October 18, 2021: The IRS announced that beginning...more

Hahn Loeser & Parks LLP

The Anti-Money Laundering Act Of 2020: What Businesses Need To Know Now

The National Defense Authorization Act for Fiscal Year 2021 (“NDAA”) enacted earlier this year includes several provisions that may impose new reporting requirements on both foreign and domestic businesses. NDAA is an...more

63 Results
 / 
View per page
Page: of 3

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide