Business Law

What you need to know : On October 4, 2023, Governor Healey signed the “Act to Improve the Commonwealth's Competitiveness, Affordability, and Equity.” The Act provides $1 billion in tax relief to residents and...

Presently, forming a corporation, LLC or other entity in the U.S. can be done on a largely anonymous basis, without naming its owners and with only limited disclosures about managers, officers and directors. Under...

Under the Corporate Transparency Act ( CTA ), more than 30 million “ Reporting Companies ” will need to register with FinCEN (a bureau of the U.S. Treasury Department) and file Beneficial Ownership Information...

This is an update to the August 18, 2023 article published on the Maine Venture Fund's website. The days of anonymous ownership and control of U.S. legal entities are ending soon, and nearly every...

On August 18, the Maine Venture Fund published an article by Verrill Partner Gregory Fryer, “Corporate Transparency Act regulations will go into effect soon and will affect almost all startup companies.” In the article...

Click here to see an updated version of this article published on October 30, 2023. Presently, forming a corporation, LLC, or other entity in the U.S. can be done on a largely anonymous basis...

The Corporate Transparency Act ( CTA ) takes effect starting January 1, 2024. The Act is administered by FinCEN , a bureau of U.S. Treasury charged with combatting money laundering and other financial crimes...

In 2024 the Corporate Transparency Act ( CTA ) and related CTA Rule [1] will require more than 30 million “ Reporting Companies ” to register with FinCEN , a bureau of U.S. Treasury...