Hotel Lawyer: Preparing for the Corporate Transparency Act

Jim Butler | November 9, 2023

By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com In 2021, Congress passed the Corporate Transparency Act in order to combat money laundering and other illegal activities. The CTA goes into effect on January 1, 2024, and requires almost all businesses to file a report with FinCEN identifying their beneficial owners. JMBM’s Taxation, Trusts & Estates Department has written the below article detailing the steps businesses should take to prepare for this new law. Preparing for the Corporate Transparency Act Disclosure of Beneficial Ownership Information to FINCEN by JMBM’s Taxation,...