CTA Compliance Help, LLC launches its consultancy service to help small businesses in Las Vegas, NV, and surrounding areas become compliant with the U.S. Corporate Transparency Act (CTA), which took effect on the 1st of January 2024.
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The Corporate Transparency Act became active eight months ago, and many companies across the United States are still not compliant. It is clear that business owners do not fully understand the new federal law which was designed to combat money laundering and other financial crimes. These same business owners clearly do not understand the severity of the penalties they will be facing for non-compliance. CTA Compliance Help, LLC, due to its commitment to protect small business owners, has expanded its services to offer compliance assistance to small businesses in Nevada.
More details can be found at https://ctacompliancehelp.org/home?am_id=bob588
CTA Compliance Help, LLC explains that while the filing process of the CTA appears to be straightforward, getting up to speed on the technical aspects and detailed reporting requirements may be overwhelming for many business owners.
The Act requires most small to midsize companies that operate in the United States to report all beneficial owners and leadership or those who exercise substantial control over the business. Beneficial owners may include individuals who own 25% or more of the company or receive a substantial financial benefit from the business. Leaders, officers, managers, etc. also are required to report to the Financial Crimes Enforcement Network, a bureau of the U.S. Treasury Department. Failure to do so properly and in a timely manner may lead to heavy fines and potential federal prosecution.
There are nuances to determining who is a beneficial owner. The 25% ownership relates to all direct and indirect beneficial owners, whether through equity, stock, or voting rights; a capital or profit interest; convertible instruments; or other instruments or contracts used to establish ownership. Determining beneficial owners via control includes those who have the ability to affect business operations in any substantial manner such as managers, presidents, officers, board members, etc.
CTA Compliance Help, LLC was established by Mr. Curry Andrews, an experienced business attorney, who is committed to helping small businesses remain compliant with the law. Because this is a new regulation, it is understandable that many business leaders remain unaware of the CTA. Unfortunately, as Mr. Andrews explains, ignorance of the law does not prevent non-compliant businesses and their owners and officers from penalties, fees or even prosecution.
CTA Compliance Help, LLC offers its online fulfillment services to tax preparation entities, law firms, financial institutions, financial planners, and anyone who wants to help their clients avoid the consequences of non-compliance.
More information about the new federal law and a “quiz” to help clients determine whether or not they are required to file, can be found at https://ctacompliancehelp.org/home?am_id=bob588
CTA Compliance Help, LLC maintains security protocols to protect sensitive data and only utilizes U.S.-based data centers. Its staff is also native English speakers, and its offices and call centers are based in the United States.
Currently, there are three plans to choose from depending largely on the urgency of a client’s needs. All packages include email support from trained specialists and compliance guidance.
Interested parties can learn more by visiting: https://ctacompliancehelp.org/home?am_id=bob588
Contact Info:
Name: Curry Andrews
Email: Send Email
Organization: CTA Compliance Help LLC
Address: P.O. Box 166, American Falls, ID 83211-0166, United States
Website: https://ctacompliancehelp.org/
Source: PressCable
Release ID: 89139012
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