On January 1, 2024, the Corporate Transparency Act (CTA) became effective, thereby imposing significant new reporting requirements on more than 32,000,000 small businesses. The stated purpose of the CTA is to expose illegal activities, including the use of shell companies and other opaque ownership structures to launder money and evade taxes. To help uncover such…
On January 1, 2024, the Corporate Transparency Act (CTA) became effective, thereby imposing significant new reporting requirements on more than 32,000,000 small businesses. The stated purpose of the CTA is to expose illegal activities, including the use of shell companies and other opaque ownership structures to launder money and evade taxes. To help uncover such…
The Corporate Transparency Act (CTA), which became effective on January 1, 2024, requires a “reporting company” to file Beneficial Ownership Information (BOI) reports with the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury. The BOI reports require the disclosure of information about the reporting entity itself and two categories of individuals:…
Rich Payne is a new partner at MPS. He joined the firm on July 1, 2023 from his previous firm, Robinson Payne LLC. Rich’s legal practice crosses a wide range of business law, however his expertise and passion lie in serving family businesses and privately held businesses. Q. How did your practice evolve to focus…
Small business owners will have one more item on their compliance to-do list when the Corporate Transparency Act (CTA) takes effect next year on January 1, 2024. The CTA1, enacted as part of the Anti-Money Laundering Act of 2020 (AMLA), places new reporting requirements on many business entities in an effort to expose illegal activities,…
As of July 1, 2023, the firm of Robinson Payne LLC will be joining Meltzer, Purtill & Stelle LLC. Both named partners, Russel G. Robinson and Richmond A. Payne, along with longstanding paralegals Wendy K. Widmayer and Melissa A. Wolf, are making the move, bringing a wealth of experience and expertise in estate planning, corporate…
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Corporate and business law is an area of vital importance to MPS Law, and it shows in the exceptional resources and expertise we bring to the table. We’ve built an enviable track record serving as outside general counsel to privately-held businesses of all sizes in a wide range of industries and professions. Our corporate attorneys…
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Andrew Chamberlain, a partner at MPS with a focus on mergers and acquisitions, played football in high school. His position was defensive back. The skillset of a great defensive back includes, among other traits: speed, the ability to change directions quickly as needed, rigorous preparation, good technique, and the ability to see the whole picture….
