In a recent Bloomberg Law article, MMM attorneys Matt Flower, Matt Peurach, and Lili Martin-Mashburn review the steps small businesses can take to ease compliance with the Corporate Transparency Act’s information disclosure requirements starting in 2024.
Almost all small businesses—including corporations, partnerships, and limited liability companies—will be impacted by the Corporate Transparency Act on Jan. 1, 2024. The process will require disclosure of certain information to the Department of Treasury’s Financial Crimes Enforcement Network. Owners and operators of small businesses (or anyone establishing legal entities for other purposes, such as owning real estate investments) should take measures to prepare.
Read the full Bloomberg Law article here.
