The Corporate Transparency Act in Plain English for Small Businesses

professional profile

January 15, 2024

by a professional from Harvard University in Lynbrook, NY 11563, USA

I just pushed out a PDF memo in the prior post on what small businesses need to know about their new reporting obligations under the Corporate Transparency Act. Couldn't add a note so just giving context as a separate post.

It's vast governmental overreach IMHO, but the penalties for intentional non-compliance can be serious (at least theoretically they can be up to $500 a day, or criminal fines/prison).

Compliance is not crazy complicated, so I suggest anyone who owns or runs a biz should review what's required.

Memo is in my prior post or can be found here: https://landklegal.com/news-and-resources/cd0zkh8ucgnr0bet8h5l72rh6gkrr5

Happy to field basic questions.

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Reply by a searcher
from Duke University in Union, NJ, USA
This is definitely a good share and breakdown
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Reply by a searcher
from University of Virginia in Philadelphia, PA, USA
Thank you for sharing.
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