The Corporate Transparency Act: Reporting Requirements and Burdens for Small Businesses

As published in the February issue of Properties Magazine.

In January of 2021, Congress passed the Corporate Transparency Act (CTA) imposing new reporting requirements for all entities formed or registered to do business in the United States. And although the intent of the CTA was to make committing financial crimes and tax evasion more difficult, it also imposes significant burdens on small businesses.

In this article Thomas A. Gattozzi and Louis P. Alexander, Jr. discuss notations within the CTA and the additional administrative work, compliance costs, and compulsory disclosure and loss of anonymity that will affect how small businesses operate, and the impact it will have on the real estate industry.

Click here to read a PDF of the full article.