Corporate Transparency Act

[David Dachtera]

Just heard about this tonight ... Google: "corporate transparency act summary"

It's set to take effect Jan 1, 2024, apparently. Here's a little of what may come up:

"The Corporate Transparency Act (CTA), enacted in 2021, was passed to enhance transparency in entity structures and ownership to combat money laundering, tax fraud, and other illicit activities. It is designed to capture more information about the ownership of specific entities operating in or accessing the U.S. market."

Consult your legal counsel.

Another item to Google is "FinCEN"

[Scott Mac]

And the amount of money laundering, tax fraud, and other illicit activities happening using entities is probably minuscule in amount compared to the invasion of personal privacy this will be for most American business owners.

Lets see if they ever catch even one money launderer, tax fraudster, or other illicit activities person using this data.

Just my 2 cents.