The Corporate Transparency Act Redux
I wrote about the Corporate Transparency Act (CTA) 11 months ago. I alluded to fear, as penalties for non-compliance top out at $10,000. Today – and I had planned to be in touch earlier, but the year ran away from me, like that dish and spoon – I am equanimous about the whole thing. Not without concerns, but calm.
Do you have inactive entities? LLCs and corporations that do nothing and own nothing? Dissolve them by December 31, 2024, and the CTA matters not at all.
Do you have existing active entities? By active, I refer to any legal entity that registers with the state. Corporations. Limited liability companies and professional