Description

A Zoom Meeting with Tom Misteli -  "The Corporate Transparency Act. What you need to know. What you need to do." For information about Tom Misteli, visit https://www.mistelilaw.com/

FREE. Register to RSVP and Zoom link will be sent in advance of meeting. 

What is the Corporate Transparency Act (CTA)?

The CTA, which went into effect on January 1, 2024, requires many businesses to report beneficial owner information to the federal government. It is intended to fight illicit activity including tax fraud, money laundering, and financing for terrorism, and failure to comply may lead to fines and/or jail time.

Does the Corporate Transparency Act apply to my small business, even if it’s not a corporation?

Yes, nearly every business registered with the Secretary of State in Texas (or in any other state) must comply with the CTA reporting requirements. This includes limited liability companies (LLCs), limited partnerships (LPs), and limited liability partnerships (LLPs), not just corporations.

Who is considered a “beneficial owner?”

The CTA defines a beneficial owner as someone who owns at least 25% of a company, or someone who has a major influence on the company’s decisions or operations regardless of ownership stake.

What questions will the presentation cover?

· Does my company have to report its beneficial owners?

· Who is a beneficial owner of my company?

· Does my company have to report its company applicants?

· What specific information does my company need to report?

· When and how should my company file its report?

About the Presenter

Mr. Misteli is the principal of Misteli Law Firm, a practice focused on estate planning, probate, real estate, and small business matters. He has been licensed to practice law in Texas since 2008. Tom and his wife Michele live in Old Lake Highlands with their four mischievous pugs.