Transparency compliance requirements.
Hellmuth & Johnson attorney, Mark Balzarini discusses this issue with Farm Progress.
“In 2021, Congress passed the Corporate Transparency Act, under which many business entities will need to file a beneficial ownership information report with the U.S. Department of the Treasury’s Financial Crimes Enforcement Network. Farm entities that fall under this reporting requirement include corporations, limited liability companies, partnerships or other types of entities that are created by filing with the secretary of state or other similar office.”
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