Whether you’re running a small business, practicing medicine, or working in any professional organization, a disciplinary board complaint is one of the most stressful challenges you can face. It doesn’t just threaten your reputation—it could have serious impacts on your career or business. Knowing how to respond strategically to this situation is critical. Here’s a step-by-step guide to help you …
Beneficial Ownership Information Reporting Requirement Reinstated on 12/23/2024
Beneficial Ownership Information Reporting (BOIR) the Corporate Transparency Act (CTA) IS NO LONGER SUSPENDED by Court Order As of December 23rd, 2024, FinCEN is no longer enjoined (i.e. restrained) from enforcing Beneficial Ownership Information Reporting (BOIR) the Corporate Transparency Act (CTA). The Fifth Circuit, United States Court of Appeals, has granted the US Government’s emergency motion to stay the lower court’s order …
How Might the New Trump Presidency Affect Business Owners?
The beginning of any presidency brings a wave of questions about changes to policy and how it might impact different sectors of society — particularly businesses. For small business owners and entrepreneurs, understanding how the Trump administration’s policies will shape the economy, regulations, and opportunities is essential for making informed decisions. Here’s a breakdown of potential areas of impact under …
Beneficial Ownership Information Reporting (BOIR) the Corporate Transparency Act (CTA) is Currently Suspended by Court Order
FinCEN is currently enjoined (i.e. restrained) from enforcing Beneficial Ownership Information Reporting (BOIR) the Corporate Transparency Act (CTA), by a legal decision from the US District Court for the Eastern District of Texas, see Texas Top Cop Shop, Inc. v. Garland, E.D. Tex., No. 4:24-cv-00478, 12/3/24. If you’ve already submitted your BOIR, that’s okay. There’s nothing for you to do. You …
Business Law Southwest Partners Up With Score Albuquerque To Help Business Owners Navigate Impending Deadline.
Firm Partner Larry Donahue will hosting a free webinar to help businesses better understand the Corporate Transparency Act and the filing of Beneficial Ownership Information Reports (BOIR) for the majority of all Small Businesses in the United States. Here is the most important take away you need to know about. Failure to properly report beneficial ownership information (BIOR) by January …
Why Nail Technicians Are Often Susceptible for Gross Receipts Tax Audits in New Mexico
Insights from a Former Nail Tech! Nail technicians in New Mexico frequently face audits for unpaid gross receipts taxes (GRT), largely due to the unique nature of their work and a lack of clarity about their tax obligations. The Common Scenario Picture this: you receive a letter titled “Notice of Limited Scope Audit Commencement” from the New Mexico Department of …
Federal Trade Commission’s Non-Compete Clause Ban Overturned: What This Means for You
In a major shift for employment law, the recent overturn of the Federal Trade Commission’s (FTC) non-compete clause ban has sparked conversations and questions among small business owners across the country. Understanding this decision’s significance is crucial for navigating the new legal landscape successfully. The Background Non-compete clauses have long been used by businesses to restrict former employees from working …
What If The FTC’s Non-Compete Clause Is Overturned?
Introduction On September 4th, 2024, the Federal Trade Commission’s (FTC) ban on non-compete clauses is expected to take effect. This change means employers must notify their employees that any non-compete clauses in their contracts will no longer be enforced, although the rest of the contract will remain valid. However, there’s a twist—this ruling could be overturned before or after the …
NM COURT OF APPEALS AFFIRMS PARENT’S RELEASE OF FUTURE NEGLIGENCE ON BEHALF OF CHILD
New Mexico law on liability releases for “future negligence,” (something that may or may not happen in the future), and the legal ability of the parent to release that future liability on behalf of the child is rare among the states. The NM Court of Appeals, on July 11, 2024, narrowly affirmed a trial court’s ruling upholding the validity of …
Who Qualifies as a “Worker” Under the FTC Non-Compete Clause Ban
When the Federal Trade Commission (FTC) released its final ruling on the ban of non-compete clauses, it provided a comprehensive definition of what constitutes a “worker.” This definition is crucial for employers, HR executives, small business owners, and anyone who might need to consult an attorney on these matters. This article will break down the FTC’s definition of “worker,” the …
