Posts by Nathan Zion
Nationwide Injunction of CTA Lifted: Businesses Must Once Again Report Beneficial Owners
Well, the pendulum has swung back and businesses will again be required to comply with the Corporate Transparency Act (“CTA”) and its beneficial ownership interest reporting rule. Yesterday, a federal court lifted the nationwide stay against enforcing the CTA issued last month in Smith, et al. v. United States Department of The Treasury, et al.,…
Read MoreSCOTUS weighs in on the CTA but the nationwide injunction remains
On January 23, 2025, the Supreme Court of the United States granted relief to the federal government in Texas Top Cop Shop, Inc., et al. v. McHenry, et al., No. 4:24-cv-00478 (E.D. Tex.) (formerly, Texas Top Cop Shop v. Garland) concerning enforcement of the beneficial ownership interest reporting requirements (the “Reporting Rule”) under the Corporate Transparency…
Read MoreALERT: Nationwide Stay Against CTA is Back On
In an interesting turn of events, on December 26, the U.S. Court of Appeals for the Fifth Circuit vacated (i.e. nullified) its December 23 ruling that reinstated the requirement to comply with the Corporate Transparency Act (“CTA”) and its beneficial ownership interest reporting requirements by January 13, 2025. The Fifth Circuit essentially revived the preliminary…
Read MoreALERT: Court of Appeals Reinstates Enforcement of CTA—New Filing Deadline is 1/13/2025
Well, the saga continues…. Yesterday (December 23), the Fifth Circuit Court of Appeals lifted and negated the nationwide stay issued in Texas Top Cop Shop, Inc. et al. vs. Garland. This means companies must again comply with the Corporate Transparency Act (“CTA”), unless exempt, and file a beneficial ownership interest report (“BOIR”), or face steep…
Read MoreSmall Business Tax Code and Business Regulation Changes in 2025: What Ohio Business Owners Need to Know
As we approach 2025, small business owners in Ohio must prepare for significant changes to the tax code and business regulations that could impact their operations. Understanding these upcoming changes is crucial for strategic planning and compliance. Here’s a breakdown of what to expect and how to navigate these adjustments. 1. Revised Limits to the Section…
Read MoreSmall Business Alert: You must now file with FinCEN
You may be aware from our earlier notifications and posts, but beginning January 1, 2024, you may be required to submit certain information that was not previously required about a business entity and any individuals identified by the law as a beneficial owner to the federal government. We are reaching out to help you better…
Read MoreBUSINESS ALERT: Business owners must now disclose beneficial ownership to the federal government
Congress recently passed a law requiring the disclosure of certain information regarding the ownership and control of entities created through state filings. Business owners will do well to comply in order to avoid steep penalties.
Read MoreEstate Planning Concepts Webinar
Attorney Nathan Zion recently presented a webinar hosted by Enza Financial LLC, a full-service provider for life insurance, executive benefits, retirement and wealth management. In the webinar, Nathan presented some basic concepts and considerations one must take into account when setting up an estate plan. Take a few minutes to check out the replay here:
Read MorePLANNING FOR THE VACATION HOME
What considerations go into ownership of a vacation home when planning to transfer the home to future generations? What are some concerns related to successive ownership? Read this article to find out more on how to protect a vacation home and preserve a family legacy.
Read MoreOhio updates law to include Benefit Corporations (“B Corporations”)
While the Dolan family may not be the most popular one in Ohio in light of recent baseball transactions (e.g., changing the Cleveland Indians’ team name, trading all-star Francisco Lindor to New York), one Dolan has undisputedly improved the Buckeye State. Senator Matt Dolan sponsored a senate bill that was signed into law by the Governor in…
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