LLC New Requirements: Corporate Transparency Act and the Beneficial Ownership Report
This post goes over everything you need to know about The Corporate Transparency Act and BOI reporting requirement for LLCs. However, it was recently declared unconstitutional by an Alabama District Court. This means that reporting is likely not required right now until the case is sorted out in federal court. The government has appealed which means an appellate court will review the lower court's decision. The Legal Paige will keep you apprised of this case, but for now just know that BOI reporting is on pause...
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