Utah-based businesses can now seek filing assistance with the new 2024 federal Corporate Transparency Act from CTA Compliance Help, LLC.
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These new services are available to those in the metropolitan Salt Lake City area and across the state. The services are tailored to Utah-based businesses that may operate fully within the state, or which engage in business in other states. CTA Compliance Help, LLC's services are designed to be affordable and accessible for small businesses in particular. They ensure that all Utah business owners stay compliant and remain in the good graces of FinCEN, the enforcement arm of the U.S. Treasury Department.
To find out more, visit https://ctacompliancehelp.org/home?am_id=bob588
The CTA, or Corporate Transparency Act, was established as part of the U.S. Anti-Money Laundering Act of 2020, and became effective January 1st, 2024. The CTA applies to most for-profit state-registered businesses including LLCs, partnerships, corporations and holding companies. These entities must now adhere to federal reporting guidelines designed to increase accountability and transparency of business ownership. Failure to comply can result in hefty fines and penalties, up to and including prosecution by a federal agency.
CTA Compliance Help, LLC facilitates the preparation and submission of beneficial ownership documentation to keep businesses compliant with the law. This documentation includes business information, leadership and ownership personal information including government picture identification, tax information pertaining to the company and any subsidiaries, and may include information relevant to the party responsible for creating a new business after January 1, 2024.
It should be noted that the CTA may also apply to trust and estate planning. The purpose of the law is to bring to light all behind-the-scenes activity regarding these private businesses’ ownership and control. Non-compliance can result in fines of up to $500 per day, up to $10,000 plus interest and fees, as well as potential prosecution. The severity of the penalties underscores the vital nature of the work being done at CTA Compliance Help, LLC.
Using a provider like CTA Compliance Help, LLC, helps to safeguard the sensitive information involved in the reporting process. Their website uses encryption and US-based data storage services. They are an exclusively domestic company with a workforce based entirely in Idaho and Utah and are committed to protecting clients' information.
CTA Compliance Help, LLC was formed by a highly experienced attorney who works in corporate compliance. They are committed to keeping their customers compliant as the regulatory landscape continues to transform in unexpected ways.
CTA Compliance Help, LLC is not a law firm, and consequently, cannot provide legal assistance or advice. However, it does offer education as well as filing and compliance assistance to avoid the dire consequences of CTA noncompliance. Relevant forms can be found at the link below.
Learn more at https://ctacompliancehelp.org/home?am_id=bob588
Contact Info:
Name: Curry Andrews
Email: Send Email
Organization: CTA Compliance Help LLC
Address: P.O. Box 166, American Falls, ID 83211-0166, United States
Website: https://ctacompliancehelp.org/
Source: PressCable
Release ID: 89138685
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