Countdown to Compliance: Navigating the Corporate Transparency Act’s New Mandates
INTERVIEW ON THE PRICE OF BUSINESS SHOW, MEDIA PARTNER OF THIS SITE.
Recently Kevin Price, Host of the nationally syndicated Price of Business Show, interviewed Shahara Wright
The Corporate Transparency Act (CTA) is set to take effect on January 1, 2024. This pivotal legislation introduces sweeping changes for corporations, LLCs, and other business entities operating in the United States. But what’s the crux of it all? The Act demands that companies file a Beneficial Ownership Information (BOI) report with the Financial Crimes Enforcement Network (FinCEN). Ignorance is not an option; non-compliance comes with hefty consequences. We’re talking daily fines of up to $500, accumulating to a staggering $10,000 per violation, and even the grim possibility of a two-year imprisonment sentence. Whether you run an established business or oversee a nonprofit organization, this episode offers an invaluable roadmap to help you navigate these new reporting requirements and avoid crippling penalties.Link to Website: The Wright Firm, PLLC.Short Bio: Shahara Wright is an experienced and highly sought-after business law attorney and business strategist. She is the author of From Entrepreneur to CEO and host of the CEO Collaboration Circle. Shahara founded The CEO Effect, LLC to work with small business owners who want to implement strategies to build capacity.
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LISTEN TO THE INTERVIEW IN ITS ENTIRETY HERE:
The Price of Business is one of the longest running shows of its kind in the country and is in markets coast to coast. The Host, Kevin Price, is a multi-award winning author, broadcast journalist, and syndicated columnist. Learn more about the show and its digital partners at www.PriceofBusiness.com (scroll down to the bottom of the page).
