Is Your Company Exempt from the Corporate Transparency Act?
The Corporate Transparency Act provides that all reporting companies must file a report with the Financial Crimes Enforcement Network (FinCEN) of the U.S. Treasury or be subject to a $500/day fine. If you are an owner of a limited liability company (LLC), a professional limited liability company (PLLC) a corporation, a professional corporation, a limited partnership (LP), a limited liability partnership (LLP), a limited liability limited partnership (LLLP) you need to know if your company must file the FinCEN report or if it is exempt.
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