Category: Corporate & Business law
Corporate Transparency Act: Part I
February 9, 2023 | Carole Clark Isakson
An Introductory Overview Congress passed the Corporate Transparency Act (the “CTA”) in 2020 as part of its initiative to crack down on illicit activities, such as money laundering, commonly associated with shell companies. Under the CTA, many entities formed or registered to do business in the United States will be required to report various information concerning beneficial ownership of/decision-makers for, a given company. The Financial Crimes Enforcement Network (“FinCEN”), under the direction of the United States Department of the Treasury, has been tasked with preparing the regulations that will govern the beneficial ownership reporting requirement and provide for enforcement. The reporting obligations under the CTA will impact hundreds of thousands of entities, including corporations, limited liability companies, partnerships, and various non-profit organizations. The most significant impact will be felt by small and mid-size companies, and the individuals who own and operate them, who did not previously have any mandated federal reporting responsibilities. Final regulations under this Corporate Transparency Act were released by FinCEN in September 2022, and go into effect beginning January 1, 2024. Entities and individuals subject to these new regulations will be required to submit a beneficial ownership information report identifying each beneficial owner, decision maker, and company applicant. These individuals will be required to submit information about themselves as part…
Read MoreBGS Attends Annual DSTA Holiday Party
December 9, 2022 | Toni PerrierOn Friday, December 2nd, BGS attorneys Carole Clark Isakson and Erik Ordal, with paralegal Rachel Schwankl, enjoyed an evening in Duluth at the Duluth Superior Transportation Association holiday party. Isakson just concluded her second year on the board of directors for the DSTA. BGS is an avid supporter of the DSTA and other transportation related organizations. The firm plays an important role in the transportation industry as it provides legal advice to trucking companies large and small. Our transportation department has decades of experience in this specialized field and advises its clients on a variety of topics including; contracts, independent contractor rights, regulatory matters, cargo damage claims, mergers and acquisitions, employment matters and more. With more than 30 attorneys BGS is able to provide the services its trucking company clients need. Contact us with your transportation inquiries to learn more about the role BGS plays as counsel to transportation companies and the services provided. Barna Guzy & Steffen, ltd
Read MoreADA Website Compliance – Is Your Business Up to Date?
June 9, 2022 | Tyler W. Eubank
By Tyler Eubank and Sara Engemann The Americans with Disabilities act, signed into law in 1990, could not have possibly predicted the magnitude with which the internet would impact the daily lives of Americans. What once could only be accomplished in a brick-and-mortar location, like seeing a doctor or grocery shopping, can now be done completely online and from anywhere in the world. As a website could be considered a “public accommodation” under the ADA, the accessibility of websites is a new frontier in ADA litigation. For the time being, courts disagree about the standards under the ADA, with some circuits requiring stricter standards than others. As a result, the rules may differ from state to state or jurisdiction to jurisdiction. Under certain standards, an accessible website: (1) does not include flashing graphics that could induce seizures, (2) includes text descriptions of all images so that the images can be described by a screen reader, and (3) allows the site to be navigated via keyboard alone, allowing users that cannot grip or operate a mouse to access the site, to name a few. The ADA has already bred “drive-by ADA lawsuits” where a business receives an ADA complaint and then a nearly instant demand for payment of attorney’s fees related to the alleged…
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