In January of 2024 FinCEN will require businesses to report beneficial ownership, as outlined in the Corporate Transparency Act. The legislation includes the term ” Reporting Company Applicant.” But what is that exactly, and how does it fit into this new law? This article will explore what a Reporting Company Applicant is, and how it relates to the Corporate Transparency …
Corporate Transparency Act: Possible Exemptions
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 …
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 …
