The recent coming of the Corporate Transparency Act has brought a new issue to the forefront of the business and legal world. The act requires certain businesses to report the beneficial ownership of their companies to the Financial Crimes Enforcement Network (FinCEN). However, there are a few exemptions to reporting, and this blog post delves into what some those exemptions …
Successor Liability and How to Prevent It
In business, it’s important to keep in mind that liabilities don’t disappear when ownership changes hands. Debts owed, outstanding lawsuits and liens may transfer over to the new owners of the business. This legal concept is called successor liability. For business owners, it’s crucial to be aware of how this can impact their bottom line and what they can do …
The Corporate Transparency Act and New Mexico Citizens
Recent changes in federal legislation will result in a new status quo for New Mexico business owners. The Corporate Transparency Act goes into effect nationally on January 1st, 2024. This act will require businesses to report their beneficial owners. This post will explore when a report is necessary, what to include and and who to report to. Who is Considered …
Professional Licensing & Licensure: How an Attorney Can Help
Being a licensed professional not only demonstrates an individual’s expertise in their field but also helps to assure clients that they are working with a competent and qualified professional. The process of obtaining a professional license, however, can be arduous and confusing. For some individuals, it may require various examinations, education requirements, and years of supervised experience. This is where …
Probate Litigation: Understanding Its Implications and Finding Legal Assistance
Probate is an essential process where the court proves the validity of a will and authorizes the distribution of a deceased person’s assets to their close family members and other beneficiaries. The process gives a legal confirmation of the executor’s authority and the ownership of the assets before they can be passed to the beneficiaries. In most cases, the probate …
Understanding At-Will Employment in New Mexico
As a business owner or employee in New Mexico, it’s important to understand what at-will employment means and what rights and obligations come with it. At-will employment is a common type of employment relationship where an employer can terminate an employee at any time, for any reason, and without notice. However, there are some legal limitations on at-will employment in …
Employee Theft: How it Impacts a Business
Employee theft is a serious issue for businesses of all sizes, as it can have devastating financial consequences on the organization. This includes anything from stealing office supplies to embezzling tens of thousands of dollars from the company’s funds. When it comes to employee theft, business owners need to have a plan in place to prevent it from happening, and …
Understanding Expungement of Criminal Records in New Mexico
Criminal records can be a stain on your reputation that can affect your life in many ways. It can make it harder for you to get a job, a loan, and even housing. Fortunately, in New Mexico, you can get an expungement to clear your criminal record. This blog post is all about understanding the process of expungement, how it …
Protecting Your Business’ Trade Secrets
Trade secrets are perhaps the most valuable assets any company can have. They give businesses an edge over competitors, keep customers loyal, and help maintain a company’s brand or reputation. Trade secrets are a combination of confidential information, including processes, formulas, designs, and methods that give companies a competitive advantage. Furthermore, it is essential to protect these trade secrets to …
Tax Payment Installment Agreements for Business Owners
Taxes can be one of the most substantial expenses for a small business owner. With the complex regulations and deadlines, it is not uncommon for small business owners to fall behind on their tax payments. Failure to pay taxes can lead to serious consequences such as penalties, interest charges, and even legal actions. However, there is a solution to ease …
