Corporate Transparency Act

What You Need To Know

Understanding the Corporate Transparency Act (CTA)

Key Compliance Requirements for Small Businesses in 2024

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The Corporate Transparency Act (CTA), effective January 1, 2024, aims to combat financial crimes.

Administered by the Financial Crimes Enforcement Network (FinCEN) to address money laundering and terrorist financing, the law requires businesses with less than $5 million in revenue to disclose their beneficial owners.

This new federal requirement enhances transparency and accountability for businesses.

What Happens If You Don't Comply?

Severe penalties: Huge fines and possible prison time.

Civil Fines

Up to $500 per day on non-compliance

Criminal Penalties

Up to 2 years in prison and fines of $10,0000

Why Past Clients Trust Costaras Law

Discover How They Found It A Simple and Easy Process

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Jan C.

Happy Grandma

Attorney Nicholas Costaras prepared my Will and Estate Planning documents. He made the process simple, easy, and straightforward for me. If you need to get your Will or Estate Plan in order, you'll love having him on your side!

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Amanda M.

Entrepreneur & Mom

Mr. Costaras is a pleasure to work with. He is patient, highly knowledgeable, and an expert at what he does. He helped me prepare my documents quickly and efficiently. He is a rare gem in the world of law. Anticipate exceptional service.

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Debora Z.

Retired & Loving It

Attorney Costaras prepared a full Estate Plan for me. He explained the difference between a Revocable Living Trust and a Last Will & Testament. Thanks to his help, I now have my Estate Planning in order. I highly recommend him!

Take the Next Step

Schedule Your Consultation Today

Ready to explore your options? Partner with Costaras Law for expert guidance and strategic solutions.

Schedule a consultation with Nicholas Costaras today and take the first step toward achieving your business goals.