Author: jmholder

If you own or manage a corporation, understanding and complying with the Corporate Transparency Act (CTA) is crucial to avoid potential penalties. Here’s a step-by-step guide on how to file beneficial ownership information for the Corporate Transparency Act: 1. Determine if Your Entity is Subject to the Act The first step is to determine if…

The Corporate Transparency Act (CTA) is a significant piece of legislation that requires companies to disclose their beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN). This information includes details about the individuals who ultimately own and control the company, helping to prevent the misuse of shell companies for illicit activities such as money…

1. Introduction to the Corporate Transparency Act What is the Corporate Transparency Act? The Corporate Transparency Act (CTA) is a significant piece of legislation enacted by the United States Congress to increase transparency in the corporate sector. The CTA mandates that corporations, limited liability companies (LLCs), and other similar entities report their beneficial ownership information…