The Corporate Transparency Act and How It Impacts Your Business
February 17, 2022 | Georgia Kellogg
Update December 19th, 2024 On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction in Texas Top Cop Shop, Inc., et al. v. Garland, enjoining the federal government from enforcing the Corporate Transparency Act (CTA) and its reporting deadlines. On December 13, 2024, the Department of Justice (DOJ) filed an Emergency Motion for Stay Pending Appeal in the Fifth Circuit requesting an expedited briefing schedule and a ruling “as soon as possible, but in any event no later than December 27, 2024, to ensure that regulated entities can be made aware of their obligation to comply before January 1, 2025.” Reporting companies should continue monitoring developments in the coming days in case the January 1, 2025 deadline for filing is reinstated. In January of 2021, as part of its initiative to crack down on illicit activities commonly associated with shell companies, Congress passed the Corporate Transparency Act (the “CTA”). Under the CTA, entities formed or registered to do business in the United States will be required to report various information concerning beneficial ownership of the company. The Financial Crimes Enforcement Network (“FinCEN”) has been tasked with preparing the regulations that will govern the beneficial ownership reporting requirement and provide the necessary oversight to ensure…
Read MoreDWI: Can You Refuse a Breath Test?
February 14, 2022 | Barna, Guzy & Steffen, Ltd.
Should you make the mistake of driving under the influence, there may be a series of penalties coming your way. Many try to avoid the repercussions by refusing a breathalyzer test completely, but this is a crime itself in Minnesota and oftentimes gets you in more trouble. Continue reading to find out what you should do if you are pulled over while driving under the influence. Understanding Minnesota’s Implied Consent Law According to Minnesota Statute § 169A.51, any person who drives or operates a motor vehicle in Minnesota consents to a test of their breath to determine if they are under the influence of alcohol or drugs. Essentially, this law is stating that if you are suspected of driving while under the influence, and you refuse to take a breath test, you can be reprimanded. Some of these penalties for a first-time refusal include a one-year license revocation and jail time. What Happens If You Refuse? The minute you refuse a breath test, the officer is legally required to inform you that the law states that you have already consented by driving, and the refusal is now considered a crime. The officer then must also inform you of your right to speak to an attorney. After you are informed of the law, you…
Read MoreA Future Career in the Legal Field?
February 10, 2022 | Barna, Guzy & Steffen, Ltd.On February 9, 2022 BGS shareholder Carole Clark Isakson spent an afternoon at Osseo Senior High speaking with students interested in careers in law. After 31 years as an attorney, she certainly didn’t run out of examples and stories! Osseo, like many high schools, spends a lot of time working with students on their plans after high school, whether those plans are work, trade school or college. Having surveyed students on their areas of interest, professionals were invited in to speak about nursing, public services, sports, art and music, law, business, construction, manufacturing, engineering, and information technology. Those sessions have taken place throughout the year. Approximately 50 students attended the session on careers in the law, and Isakson was one of three attorneys and a paralegal present to talk to the students. After introductions and a brief opportunity to talk about their particular jobs, the four professionals rotated from table to table to talk in small groups with the students. Carole recapped a few of her favorite moments of the day: Weirdest question? “What kind of car do you drive?” [uhm… Honda Accord] Most thought provoking question? “Did you make any career decisions you regret?” [Actually… no!] Most common question? “What skills do I need to be a good lawyer?” [A good lawyer…
Read More