Courtesy of NAA:
The National Agricultural Law Center (NALC) is hosting a webinar entitled, Small Entities Must File: Navigating the Corporate Transparency Act’s New Reporting Requirements, at noon eastern time on March 20th.
March 20, 2024
12:00am (EST)
The webinar will provide information on which entities will be impacted by the Corporate Transparency Act, when reports must be filed, and what information must be disclosed.
Why is this Important?
According to the USDA’s 2022 Census of Agriculture, there are roughly 1.9 million farms and ranches operating in the United States. Each of those farms and ranches is likely operating as a business entity.
Under the Corporate Transparency Act (CTA), which went into effect on January 1, those operations will have until the end of the year to file their first beneficial ownership information report or face steep fines. Most small businesses, including single member LLCs, that were in existence prior to the first of the year have until the end of 2024 to file reports under the CTA. New businesses have an even tighter deadline, that will grow tighter still in 2025.