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Started By
Message
Looks like BOI reporting is back
Posted on 2/20/25 at 7:54 am
Posted on 2/20/25 at 7:54 am
LINK
On February 17, a Texas federal judge lifted a preliminary injunction issued in Smith v. United States Department of the Treasury, removing the last legal roadblock to the enforcement of the Corporate Transparency Act (CTA). The decision aligns with another decision made by the Supreme Court in a similar case in January. The U.S. Treasury may now enforce the bipartisan Corporate Transparency Act, which requires certain legal entities to provide basic identifying information on their true owners, though the department has previously signaled that it is likely to provide reporting companies with a 30-day extension to file.
On February 17, a Texas federal judge lifted a preliminary injunction issued in Smith v. United States Department of the Treasury, removing the last legal roadblock to the enforcement of the Corporate Transparency Act (CTA). The decision aligns with another decision made by the Supreme Court in a similar case in January. The U.S. Treasury may now enforce the bipartisan Corporate Transparency Act, which requires certain legal entities to provide basic identifying information on their true owners, though the department has previously signaled that it is likely to provide reporting companies with a 30-day extension to file.
5
Posted on 2/20/25 at 8:03 am to Rex Feral
Just read your entire post and the entirety of the link you submitted, and I do not see the term BOI anywhere
Posted on 2/20/25 at 8:06 am to Meauxjeaux
Ah! Went two links deep to fin BO = beneficial ownership. Still not sure about the I.
Posted on 2/20/25 at 8:09 am to Meauxjeaux
It's this, Meauxjeaux
Business registration
Business registration
Posted on 2/20/25 at 8:13 am to TigerTattle
So all my Wyoming LLCs are screwed?
Am I back to usufructing again? What a pain.
Am I back to usufructing again? What a pain.
Posted on 2/20/25 at 8:16 am to Meauxjeaux
BOI = Beneficial Ownership Information.
Posted on 2/20/25 at 8:32 am to Meauxjeaux
quote:
So all my Wyoming LLCs are screwed?
Probably not. You just have to register with fincen.
Posted on 2/20/25 at 8:37 am to Rex Feral
How does a federal court have the ability to tell the executive how it runs the operations? Shouldn't this power only be given to the Supreme court?
Posted on 2/20/25 at 8:51 am to Rex Feral
Beneficial owner information refers to the details about individuals who ultimately own or control a legal entity, such as a corporation or trust, and benefit from its assets or income. This information typically includes the owner's full name, date of birth, address, and identification number, and is used to enhance transparency and prevent financial crimes.
Might have helped some if posted from the start.
Might have helped some if posted from the start.
Posted on 2/20/25 at 9:01 am to SouthEasternKaiju
quote:
Might have helped some if posted from the start.
My bad. I assumed people were familiar with BOI.
Posted on 2/20/25 at 9:11 am to Rex Feral
Why are we celebrating this? This is a terrible law that only adds red tape for small business owners and gives the government more data on people.
Iirc, this law was vetoed by Trump his first term, but congress overrode his veto.
Iirc, this law was vetoed by Trump his first term, but congress overrode his veto.
Posted on 2/20/25 at 9:13 am to Knartfocker
quote:
Why are we celebrating this?
I agree. Total overreach by the federal government. I posted it so anyone who thought they didn't have to file was aware the requirement is back on.
The more you know.
Posted on 2/20/25 at 9:17 am to Rex Feral
Well this sucks
Posted on 2/20/25 at 9:20 am to Rex Feral
quote:
I posted it so anyone who thought they didn't have to file was aware the requirement is back on.
I actually do appreciate you posting for this reason. I checked on this a week or 2 ago. I have to go do my 2 LLCs now.
Posted on 2/20/25 at 11:00 am to SlowFlowPro
I have 21 LLCs I have to go do for clients now lol
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