The Corporate Transparency Act (CTA) is a federal law enacted as part of the Anti-Money Laundering Act of 2020 meant to reduce financial crime in small businesses across the United States. Specifically, the CTA requires that smaller, otherwise unregulated, companies file a report with the US Department of Treasury’s Financial Crimes Enforcement Network within their new Beneficial Ownership Secure System (BOSS), which the network may share with other government agencies and financial institutions who request it. The Act will come into effect on January 1st, 2024, for newly formed companies and on January 1st, 2025, for already existing companies.
Discover the vital role of the spirit of your business plays in driving success and shaping decisions, including legal infrastructure. Equinox recognizes the significance of the spirit and purpose of your business as a guiding light, setting you apart, attracting customers, unifying your team, and gaining stakeholder support. Through our comprehensive Business Health Assessment, we take a holistic view of your business's spirit, mind, and body, providing personalized guidance to fortify your business's health through a strong legal foundation. Start your assessment now to empower your journey towards success.
Washington State has recently amended its 2018 Equal Pay and Opportunities Act to include new amendments that improve pay transparency and provide more information to job applicants. As of January 1, 2023, Washington State employers with at least 15 employees are required to disclose the “wage scale or salary range” for each job posting to both employees... View Article
When it comes to legal matters and liabilities your business may face, there must be a shield of separation in place to protect your personal liabilities and everything you have work to accomplish in your business. It’s time to deploy the "corporate veil" – strategically leverage your business’ legal entity structure as a risk mitigation tool.
Today, it seems like every other commercial is for an insurance company. From talking geckos to that Mayhem guy destroying things, we’ve become familiar with the needs and benefits of auto and home insurance–but what about protecting our business?
On December 17, 2021, in a highly publicized announcement, Governor Inslee announced the implementation of the Washington CARES Act would be delayed for the legislature to fix the statute. The Governor stated that the state would not collect funds until the legislature resolved open issues. Lawmakers stated, “While we cannot direct employers not to collect,... View Article
Every day, business leaders balance risk and opportunity — in their contracts, hiring, expansion plans, and other areas of business. Their focus is on progress and their risk tolerance tends to be high — after all, risk is a part of the entrepreneurship game! But often they make these decisions with significant blind spots— they... View Article
The Long-Term Care Act, passed in May of 2019, mandates a new uncapped 0.58% payroll tax on employee wages. The tax will create a Long-Term Care Trust Fund to fund the Long-Term Services and Support Trust Program. The program will help supplement long-term care costs, such as assisted living expenses. While the program’s specifics are... View Article
Take a look back at the most popular blog posts of 2020 to use in your business planning. Read the blogs that were top of mind for your peers this year and catch up on ones you may have missed. Business owners and leaders faced 2020 challenges head-on, gathering essential lessons learned to carry into... View Article
