Dear Gentry Locke Clients: This letter is to notify you of a significant change in federal law that will impact nearly everyone operating a business through a legal entity such as a corporation, limited liability company, limited partnership or other similar entity. The Corporate Transparency Act (the “CTA”) became effective on January 1, 2024, and all required companies should be prepared to comply with the new reporting requirements. The CTA requires specific private companies that meet the CTA criteria of a “reporting company” (“Reporting Company”) to file informational reports with the Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) […]