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ComplianceDecember 12, 2023

The year in review: Our top articles of 2023

It would be fair to say that the year 2023 has been a regulatory minefield for business owners, driven largely by new requirements for beneficial ownership disclosures under the Corporate Transparency Act. And as we head into 2024, business owners will focus on maintaining compliance with the laws and statutes that govern corporations, LLCs, and other entities.

As we start the new year, we’re revisiting our most popular content pieces of the year. Our experts shared a wealth of insight and information on topics including the Corporate Transparency Act, why you need a registered agent, mitigating risk and more.

Read on for our complete top 10, and visit here to sign up and subscribe for more from CT Corporation.

1. 

What is a holding company and how to use it to mitigate risk

Business owners are always looking for ways to protect their business’ assets. One of the most effective ways to do so is to divide the business into several entities, each owned and controlled by a single holding company. Our top article of 2023 answers your FAQs about holding companies and offers tips on how to start a holding company.

 

2. 

What every small business needs to know about the Corporate Transparency Act and Beneficial Ownership Information Reporting

The Corporate Transparency Act (CTA) raised many questions over the past few months. Effective, January 1, 2024, millions of small businesses must file a Beneficial Ownership Information Report (BOI) with FinCEN. In this article, we explain what the CTA is, who needs to file a BOI report, and what information must be reported and when.

 

3. 

The 23 exemptions from the Corporate Transparency Act’s beneficial ownership information reporting requirement

Exempt entities are not required to file a BOI report with FinCEN. But what is an exempt entity? Does your business fall within one of the 23 types of entities that are exempt from filing a report? Read on for answers.

 

4. 

What is a registered agent for an LLC or corporation?

All LLCs must appoint a registered agent to act as their official point of contact in the state to receive service of process and other legal documents. This article explains what a registered agent does, what service of process entails, how to appoint a registered agent, and more.

 

5. 

What Beneficial Ownership Information reporting means to small business owners

In this article we answer the many questions that small business owners have about the CTA’s beneficial ownership reporting requirements. Topics covered include: who must file, how, and where?

 

6. 

Powers and duties of corporation directors and officers

Check out this comprehensive list of the powers and duties of a corporation’s directors and officers, including who can act as a director; directors’ power, liabilities, and conflict of interests; the role of committees; and what indemnification means.

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7. 

Rights and responsibilities of LLC members

Following on from #6, our readers were also curious to know about the rights and responsibilities of LLC members, from the basics of what an LLC member is to their financial rights, right to vote, dissenter’s rights, and whether they are liable for the LLC’s debts or obligations.

 

8. 

How to close an LLC: Dissolution, winding up, and termination

Ending an LLC is a complex and often confusing process. Here we explore what dissolution is and isn’t, the tax ramifications, how to dissolve an LLC, and more.

 

9. 

Business entity administrative dissolution and reinstatement

Another hot topic was administrative dissolution. This happens when the Secretary of State takes action to remove a corporation, LLC, or other business entity’s rights, powers, and authority. In this article we explain why this may happen, the consequences, and how to avoid administrative dissolution.

 

10. 

Beneficial ownership answers for your LLC

Continuing the trend for more information about the beneficial ownership reporting information required by the CTA, this article explains what the new law means for LLCs and how they can comply.

Be prepared for 2024

As you conduct business around the world, trust CT Corporation to act quickly and confidently on your behalf. We simplify the complex, with a single point of contact and local expertise that enables you to operate in good standing.

Subscribe for updates, contact a CT Corporation representative or call us at (844) 878-1800.

The CT Corporation staff is comprised of experts, offering global, regional, and local expertise on registered agent, incorporation, and legal entity compliance.

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