The Corporate Transparency Act's Impact On Charities and Tax-Exempt Entities (Updated)

The Corporate Transparency Act (the “CTA”) became effective Jan. 1, 2024. The CTA’s goal is to reduce money laundering and other financial crimes by requiring the reporting of ownership and control information of businesses operating in the United States. Following is a summary of the impact of the CTA on charities and tax-exempt entities....
By: Clark Hill PLC