The federal Corporate Transparency Act (“CTA") will become effective January 1, 2024. Any entity created by a filing with a Secretary of State or similar office under the laws of a.
Depending on its size and revenue, hundreds of thousands of family businesses in the U.S. will be subject to new federal reporting obligations starting next year.
During 2022, COVID-19, the war in Ukraine, global inflation, the Tax Cuts and Jobs Act (TCJA), the uncertainty about the Build Back Better Act (BBBA), the Corporate Transparency Act.