The Biggest Change to LLC Requirements in Our Lifetime: Corporate Transparency Act

Important Update for LLC Owners! Starting January 1st, 2024, there's a game-changing requirement for LLCs – Federal filing with the "BOI Report" (Beneficial Ownership Information Report).

Non-compliance can lead to a $500/day penalty and criminal charges, so you don't want to miss this! As a lawyer with over 15 years of experience, I consider this the most significant change for LLCs in my career.

I delve into the details: who needs to file, when to file, what to file, and even exceptions. From beneficial ownership to disclosure requirements, I cover it all. Remember, the deadline for existing LLCs is by December 31st, 2024.

For new entities starting January 1st, 2024, you'll have 90 days post-state approval to submit the BOI Report. Don't worry; I've got you covered with valuable insights and solutions.

Ready to take the hassle out of compliance? Check out our services at Main Street Business Services, where we handle everything, including the BOI Report, as part of our comprehensive compliance service. - https://mainstreetbusiness.com

Subscribe to my channel for regular updates on the Corporate Transparency Act, tax planning, asset protection, retirement strategies, and wealth-building. Let's navigate these changes together!

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