Corporate Governance, Uncategorized
August 1, 2024

- By Sandra K Wilson, JD

As discussed in Part II, a “reporting company” does not include a company that falls under one of the 23 exemptions outlined in the Corporate Transparency Act (“CTA”).  In Part III of this CTA series we discuss possible exemptions from who must be included in “beneficial owner” reporting and what information must be reported as well as the possibility of state specific reporting.  Individual exemptions to beneficial...

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Corporate Governance
July 25, 2024

- By Sandra K Wilson, JD

Part II of this three part CTA series discusses what entities qualify as a “reporting company” under the CTA to help you determine whether your company is subject to mandatory reporting.  We also examine who qualifies as a “beneficial owner” or “company applicant” under the Act as well as discussing the subsidiary exemption. Is your Company a “reporting company” subject to mandatory reporting? Under the Corporate Transparency Act...

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Corporate Governance
July 18, 2024

- By Sandra K Wilson, JD

According to the newly enacted Corporate Transparency Act (“CTA” ), more than 2,000,000 new business entities are formed each year in the United States under state laws; however, most states do not require identification of or personal information on the beneficial owners of the entities being formed.  As a result of the lack of details required by the states, some entities intentionally conceal their ownership in...

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