by Sandra Mertens | Dec 9, 2024 | GCK on Law
As discussed in our previous article: Is the Corporate Transparency Act Constitutional?, the constitutionality of the Corporate Transparency Act (“CTA”) has been challenged in several different cases. The first case to reach a result was National Small Business United...
by Sandra Mertens | Oct 10, 2024 | GCK on Law
In Connolly v. U.S., 602 U.S. ____, 144 S.Ct. 1406 (decided June 6, 2024), the U.S. Supreme Court considered whether and how a key person insurance policy owned by a corporation and used to redeem an owner’s shares affected a decedent’s estate tax liability. In the...
by Sandra Mertens | Sep 18, 2024 | GCK on Law
Under the new Corporate Transparency Act (codified as 31 U.S.C. §5336) (“CTA”), covered entities must file “Beneficial Owner Information Reports” with the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) within 30 or 90 days after formation...
by Sandra Mertens | Sep 11, 2024 | GCK on Law
On January 1, 2021, Congress enacted the Corporate Transparency Act (codified as 31 U.S.C. §5336) (“CTA”) within the larger National Defense Authorization Act (“NDAA”). The CTA imposed new reporting and disclosure requirements on approximately 25 million existing...
by Sandra Mertens | Sep 9, 2024 | GCK on Law
New companies formed on or after January 1, 2024 are subject to the federal Corporate Transparency Act (codified as 31 U.S.C. §5336) (“CTA”) which requires information reports to be filed with the U.S. Treasury Department’s Financial Crimes Enforcement Network...
