A federal district court in Texas on Dec. 3, 2024, issued a nationwide order temporarily blocking enforcement of the Corporate Transparency Act (CTA) and its reporting requirements. As a result, businesses are not currently required to submit beneficial ownership information (BOI) reports. An appea...
Understanding Beneficial Ownership Report Essentials How to File BOI for LLC: Step-by-Step Guide How the Corporate Transparency Act Affects LLCs, LLPs, and Inc. Corporate Transparency Act: It's OK to Ask for Help BOI Reporting Requirements: Complete Guide Top Get helpful tips and info from ou...
nonprofits get a lot of money via donations, which can be an unreliable revenue stream. Even if a nonprofit hopes to receive money from grants, remember that there are more than 1 million nonprofits in the U.S. That means there is a lot of competition for those grants and other funding ...
Two types of reporting companies will be required to submit BOI reports: domestic reporting companies, including LLCs, corporations, and other entities formed through filing with a secretary of state or a comparable office in the U.S.; and foreign reporting companies that are registered to conduct...
For reporting companies that were created before January 1, 2024, beneficial ownership information (BOI) must be reported in a filing by January 1, 2025. Reporting companies created on or after January 1, 2024 must file their BOI report within 30 days after they register as a business entity...
Although filing a BOI Report is not an annual requirement, a Reporting Company has an obligation to update its BOI Report if it becomes aware of changes that would affect its accuracy. This would include changes such as the makeup of Beneficial Owners or an address change of ...
Under the CTA, a “reporting company” must report certain BOI to FinCEN. A “reporting company” is defined as any corporation, limited liability company, or similar entity that is (1) created by filing a formation document with the US Secretary of State or a...
If you live or your business address, as registered with the IRS, is in Maui County in Maui, Hawaii, your tax filing deadline is February 24, 2024. Similarly, those living or with business addresses, as registered with the IRS, in the parts of Florida, South Carolina, and Georgia that...
If your business is a C Corporation but you'd rather file taxes as an S Corporation, you need to notify the IRS in advance by filing the appropriate paperwork. IRS Form 2553, “Election By a Small Business Corporation,” is required to be filed with the IRS to switch a C Corporation ...
In some states, a reseller license might alternately be called a reseller permit, resale license, resale certificate,sales tax permit, or some other term. Regardless of its name, its purpose is to identify your company as a reseller.