Monthly Archives: March 2024
The Corporate Transparency Act and Beneficial Reporting Requirements: What’s New in the New Year
By Michael Sottolano and Anna Mancino Starting January 1st, 2024, the Beneficial Owner Information (“BOI”) Reporting requirements went into effect for corporations. Many community associations, as corporate entities, are subject to the BOI Reporting requirements and over the past few weeks, the Financial Crimes Enforcement Network (FinCEN”) released guidance to navigate this inaugural year. This […]
Alabama District Court Finds the Newest Requirements of the Corporate Transparency Act (“CTA”) Unconstitutional
By: Bruce Easmunt and Anna Mancino Shortly after the new CTA Beneficial Owner Information (“BOI”) reporting requirements came into effect, an opinion coming out of the Northern District of Alabama found those same requirements unconstitutional. Judge Liles C. Burke of the Court explained in his opinion, issued on March 1st, 2024, how Congress had managed […]