FinCEN published a notice of proposed rulemaking on September 28, 2023 and the final regulations were just promulgated on November 30, 2023 that would extend the initial filing period to 90 days. The new rule, along with the CTA, becomes effective on January 1, 2024.
Unfortunately, there are always people out there looking for new ways to steal our personal information. The latest scam? Sending ominous warnings that personal information must be filed immediately with bogus or non-existent entities pursuant to the Corporate Transparency Act.
Under the Corporate Transparency Act companies are generally required to report detailed information about their beneficial owners, commencing January 1, 2024. On November 7, 2023, The United States Treasury issued amendments to its regulations with respect to reporting for tiered entities where the lower tier entities have precisely the same owners.
On Friday, September 29, 2023, the Treasury Department published a notice of information collection under the Corporate Transparency Act (the “Act”) in the Federal Register.
On Friday, September 29, 2023, the Treasury Department updated its Frequently Asked Questions regarding compliance with the Corporate Transparency Act’s beneficial ownership and control reporting rules.
On Wednesday, September 27, the Treasury Department announced a new proposed rule extending the deadline for companies formed in 2024 to comply with the Corporate Transparency Act’s beneficial ownership and control reporting rules.
The Corporate Transparency Act requires most existing and most new businesses to file a detailed report with FINCEN (the United States Treasury’s Financial Crimes division) detailing who the major owners and managers are. Currently, the filing period commences January 1, 2024.
The U.S. Department of Labor today issued a proposed rule raising the minimum salary an employee must receive to be considered exempt from overtime under the Fair Labor Standards Act.
The State of Texas recently adopted its first comprehensive data privacy law, bringing the State in line with nine other States that have adopted data privacy laws generally following the European Union’s General Data Protection Regulation. In this blog post we highlight some of the key protections Texas consumers are now entitled to and correspondingly, key obligations of business with respect to those consumers.
With the 2023 Louisiana Legislative Session under way, it is a good time to highlight the lobbying election available to qualifying public charities exempt from federal income tax under section 501(c)(3) of the Internal Revenue Code.
Nonprofit organizations that qualify for federal income tax exemption as public charities under section 501(c)(3) of the Internal Revenue