The Corporate Transparency Act (CTA), which became effective January 1, 2024, was challenged in a federal district court by the National Small Business Association. The case is National Small Business United, d/b/a National Small Business Association, et al. v. Janet Yellen, et
Updated – California Future File Date & Future Effective Date
How can I submit a document with a Future File or Future Effective Date? 1. Future File Date – If it is your intent to file a document with a future file date pursuant to California Corporations Code section 110(a),
Delaware – Employee Recognition Event
On Friday, December 8th, the Delaware Division of Corporations will have its Employee Recognition event. Filing cut off times will be changed as follows. 30 Minute filings must be received by 5pm EST 1 Hr filings must be received by
Beneficial Ownership and Substantial Control
On January 1, 2024, entities will be required to file a Beneficial Ownership Information (BOI) report with Financial Crimes Enforcement Network (FinCEN) unless they are exempt. FinCEN has proposed to update the timeline for entities created or registered to do
CTA Updates
As we continue to diligently monitor updates and additional rulings to the Corporate Transparency Act, we want to ensure that you are kept informed. Currently, we aren’t seeing any meaningful updates, but we do have a few highlights to share.
Corporate Transparency Act’s 23 Exemptions
What entities are exempt from reporting? Currently, 23 listed entities are exempt from filing reports under the Reporting Rule. Most exemptions do not directly apply to small businesses and are directed towards larger operating companies. The exemptions include: 1. Securities
The New Corporate Transparency Act
How to Navigate the New Corporate Transparency Act An estimated 32 million entities will need to file by January 1, 2025. Stay Informed The Corporate Transparency Act (the “CTA”) was enacted by Congress in January 2021 and its primary
Delaware Preclearance Announcement
Effective November 28, 2022, through December 16, 2022, the Delaware Department of State – Division of Corporations will accept a limited amount of preclearance submissions. The following requirements relating to submission of preclearances are being instituted during this time frame:
Proposed UCC Amendments Regarding Digital Assets
As cryptocurrencies, non-fungible tokens (NFTs), and other digital assets have grown in popularity, questions have arisen concerning how these intangible digital assets should be handled under the Uniform Commercial Code (UCC). According to a recent article by Ropes & Gray[1],
California – SOS Online Portal
California’s Online Portal The California Secretary of State is launching an enhanced bizFile Online portal for Business Entities and Uniform Commercial Code. Please be advised that the Go-Live Launch Date has been pushed back 1 week to April 7, 2022.