UNDERSTANDING THE CORPORATE TRANSPARENCY ACT On January 1, 2021, Congress enacted the Corporate Transparency Act (CTA) as part of the National Defense Act for Fiscal Year 2021. The main goal of this act is to combat forms of illegal financing and money laundering through the use of anonymous shell companies. This act requires all U.S….
When you start a business, you have the opportunity to create a sole proprietorship, LLC, or corporation. Each option has advantages and disadvantages, but many people choose to register as an LLC, or limited liability company, to get similar legal protections offered to corporations while still operating as a small business. What Is an LLC?…
Planning for Business Succession and Exit Congratulations on successfully building and growing your business. The odds were against you surviving more than 5 years[1], but you beat the odds. Have your thoughts now turned to retirement? Or cashing out? Planning for business succession and exit successfully will require as much planning as growing it. Business…
Planning for Business Succession and Exit Congratulations on successfully building and growing your business. The odds were against you surviving more than 5 years[1], but you beat the odds. Have your thoughts now turned to retirement? Or cashing out? Planning for business succession and exit successfully will require as much planning as growing it. Business…
The availability of the Limited Liability Company (LLC) as a business structure has been very well received by the business community. The first appeal is based on the same reason that corporations have been utilized, namely, to limit liability of the owners of the company. The law recognizes an artificial person for purposes of allowing…
