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Small Business, Updates Isaro Carter, Esq. Small Business, Updates Isaro Carter, Esq.

What Small Business Owners Need to Know About the Corporate Transparency Act

Effective January 1, 2024, the Corporate Transparency Act (CTA) introduced new reporting requirements for millions of U.S. businesses. Designed to combat illicit activities like money laundering and tax evasion, the CTA mandates that specific businesses disclose detailed information about their beneficial owners to the Financial Crimes Enforcement Network (FinCEN).

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