This Just In on the Corporate Transparency Act
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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 Alexander Paykin.
The Alexander Paykin Commentaries
On a recent Price of Business show, Host Kevin Price interviewed Alexander Paykin, a New York Commercial Litigation and Complex Transactions Attorney and Founder of The Law Office of Alexander Paykin, P.C. (www.paykinlaw.net). Mr. Paykin is also a serial entrepreneur, sits on multiple 501c3 boards and professional committees, and teaches courses on technology and the law to other attorneys across the US and beyond. Mr. Paykin advises countless regional, national and international companies on transactional, administrative and litigation issues and sits on various corporate boards of directors and advisors.
They discussed the Corporate Transparency Act, the reporting requirements under it and the very recent Federal District Court decision temporarily halting the CTA from going into effect. The Corporate Transparency Act (CTA) requires U.S. businesses to disclose their beneficial owners to combat financial crimes. Key provisions include reporting ownership information, compliance deadlines, and penalties for non-compliance. However, a recent court injunction has temporarily halted CTA enforcement nationwide, citing constitutional concerns. The injunction delays reporting requirements and prevents penalties until further court orders or a higher court ruling. Businesses are not currently required to report ownership information but should stay informed and prepared for potential future compliance if the injunction is lifted or the CTA is upheld. The CTA aims to increase financial transparency and prevent illegal activities by making it harder for criminals to hide behind anonymous corporate structures.
Alexander Paykin, Esq., Managing Director of The Law Office of Alexander Paykin, P.C., based out of New York, focused his practice in real estate and commercial litigation and complex transactions. His firm also provides technology and finance consultancy services to its clients, including other law firms throughout the US. With a background spanning multiple countries and businesses in finance and IT, Paykin brings a unique perspective to his legal practice. His firm is modeled as a high-tech, client-centered practice, focusing on efficient service delivery in litigation and complex transactions related to business, commerce, finance, and real estate. He also operates a real estate brokerage and a real estate holding company. Mr. Paykin regularly teaches continuing legal education courses and has been published in prestigious legal journals. His writings cover topics such as mutual insurer demutualization, the business judgment rule, law practice management, and the use of artificial intelligence in modern law practice.
Mr. Paykin sits on multiple professional committees and the boards of three 501c3 non-profits, as well as a condominium board.
Learn more at https://www.paykinlaw.net/.
Connect with Alexander Paykin on social media:
Twitter/X: @Paykinlaw
