Tony Soukenik - NEW LEGISLATION FOR LLC'S, CORPORATIONS, ASSOCIATIONS, ETC. - AVOID SERIOUS PENALTIES!

Mortgage & Real Estate Podcast by Pinnacle

NEW LEGISLATION FOR LLC'S, CORPORATIONS, ASSOCIATIONS, ETC. - AVOID SERIOUS PENALTIES!

In this episode, accomplished attorney Tony Soukenik of Sandberg Phoenix upacks some of the essentials of the Corporate Transparency Act. The government wants to hone in on the personal information of owners and people with control of what amounts to 32 million entities in the United States. These entities include limited liability companies, corporations, some partnerships, some associations, etc.

Filing with the Secretary of State is a triggering event for the requirements of this legislation. Tony generously explains some of the highlights of this new law which directly impacts so many companies. Are you a 25% owner of an LLC? Are you a 25% shareholder of a corporation? Do you have some control over a partnership or an association? Do you invest in real estate? If you answered "Yes" to any of these questions, you may be a "Beneficial Owner." Please please listen and be attentive to this new law which imposes new reporting obligations.

Since this is a new law, the execution and enforcement of it will be a process of evolution. But Tony has devoted much time and energy to learn about the available information. He takes a practical look at what is at stake and the necessary steps required to comply. This episode is likely to raise eyebrows and spur many questions. Listen and consider how the Corporate Transparency Act applies to you.

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