Piercing the LLC Veil—Is Tax Classification a Relevant Characteristic?

In a single-member limited liability company (“SMLLC”) that is taxed as a “disregarded entity” and has to date not had its own employer identification number (“EIN”) required to apply for and EIN in Anticipation of filing beneficial ownership information reports as required by the Corporate Transparency Act (“CTA”)? An even if not required, should it? […]

Imagine a world where someone in Yerevan, Armenia, could send a sum of money to someone in Pokhara, Nepal, without needing to exchange the Armenian dram for the Nepalese rupee. Ten years ago, such an idea was but a figment of our collective imagination. Today, borderless transactions are happening every second, all thanks to the […]

The beneficial owner reporting requirements of the Corporate Transparency Act,1 by means of the “Reporting Regulations,”2 went into effect on January 1, 2024. As of that effective date the clock began to run on the requirement that almost every business in the country, whether formed before or after that date, file a report with the […]