In January 2021, Congress enacted the Corporate Transparency Act with the stated goal of countering money laundering, the financing of terrorism, and other illicit activity. According to Forbes, however, the regulations are written so broadly that nearly every small business in the U.S. will be swept up in this new law. The required reporting of this act is scheduled to become effective on January 1, 2024. Are you and your clients prepared?
Join this webinar for a review and discussion of the Corporate Transparency Act statutes including the final U.S. Treasury regulations that mandate reports about beneficial owners and management. These requirements extend to many U.S. business entities as well as non-U.S. business entities registering or registered to do business in any state within the United States. Attendees will learn what is required for compliance as well as the civil and criminal penalties for non-compliance.
Learning Objectives:
- Recall the mandated reporting required by the Corporate Transparency Act including when the initial report is due, when a report needs to be updated or corrected, and what specific reporting requirements the CTA include
- List company requirements such as what companies are required to file, companies that are exempt, who must be reported as having substantial management control, who must be reported as a 25% owner, and who must be reported as a “company applicant”
- Determine what companies should be doing now to prepare
- Identify the civil and criminal penalties for not complying with the Corporate Transparency Act
Chris Goodrich
Crady Jewett McCulley & Houren LLP
Partner
[email protected]
(713) 739-7007
Mr. Goodrich represents entrepreneurs, businesses and high-net worth families in a variety of business transactions, including mergers and acquisitions, joint ventures and business structuring. Chris uses his broad based knowledge of tax law to efficiently structure transactions to meet clients’ business and personal needs. He has represented both domestic and foreign clients in a variety of industries, including real estate, health care, information technology and oil and gas.
Chris has also been a seminar author, planning committee member and speaker on a variety of tax topics for the State Bar of Texas, South Texas College of Law, Houston Bar Association Tax Section, and the Texas Society of Certified Public Accountants. Among other accomplishments, he has successfully lobbied Congress for a change in federal estate tax law.
Chris obtained a B.A. from the University of Nebraska in 1976 and a J.D. from the University of Nebraska College of Law in 1978. He has an LL.M. in Taxation from Washington University in St. Louis in 1979. Mr. Goodrich is professionally affiliated with (i) the American Bar Association, where he is a member of the Tax, Business Law, and Real Property, Trust and Probate Sections; (ii) the State Bar of Texas, where he is an elected council member of the Tax Section and a member of the Corporate and Real Property, Probate & Trust Sections; and (iii) the Houston Bar Association, where he is a member and past Chairperson of the Tax Section as well as a member of the Corporate, Mergers & Acquisition, and Real Property, Probate & Trust Sections. Chris is also a member of numerous study groups of sophisticated estate planning lawyers and tax professionals from both large and boutique Houston law and accounting firms.
About Our Presenter
Crady, Jewett & McCulley, LLP is a full-service firm representing entrepreneurs, businesses, and high-net worth families in general business, real estate, oil and gas, tax and litigation matters.
Since the firm’s inception in the early 1900s, Crady Jewett McCulley & Houren LLP has sought to provide comprehensive legal counsel to businesses and individuals in the Houston area. CJMH’s team of expert attorneys offers a full range of legal expertise to protect and grow your business, including specialties within business formations, transactions, taxation, estate planning, succession, litigation, dispute resolution, and more.
- CPE Credits
- Support and FAQs
- Terms and Conditions
- Privacy Policy
- CPAwebengage, Inc.