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 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.

Originally Posted on The Energy Law Blog

As announced in Louisiana Tax Commission Statewide Advisory 03-2021 on Hurricane Ida, pursuant to La. R.S. 47:1978.1, Louisiana Assessors in Parishes affected by Hurricane Ida have to reassess property for purposes of the upcoming annual property tax bills to take into account any reductions in fair market value