Corporate Transparency Act

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The Corporate Transparency Act “CTA” went into effect on January 1, 2024 and requires most businesses, whether organized and formed as a limited liability company “LLC”, corporation, partnership, or other company created by filing documents with a secretary of state or similar office, no matter the income tax treatment of the business, to report personal information about themselves and their owners to the U.S. Department of Treasury’s Financial Crimes Enforcement Network “FinCEN”.

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