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.
As the pandemic has stretched on, the highly infectious Delta COVID variant has become the dominant strain. As infection rates increase, employers are looking for ways to keep their employees safe and allow them to return physically to the workplace. There are several considerations employers must make. Should they require employees and contractors to get... View Article
You’re probably aware that Washington State is the first in the nation to implement a state-run long-term care trust to provide funds to residents to cover long-term care costs under the Long-Term Services and Supports Trust Act (“Washington Cares Fund”). We previously shared the details of the Act in one of our latest blogs. The... View Article
Due to exceptional heatwaves and wildfire smoke in the Pacific Northwest, Washington L&I has announced new emergency rules to protect workers in Washington from heat and wildfire smoke hazards. Heat Emergency Rule The heat emergency rules apply to Washington employers with employees who are expected to be outdoors and exposed to the heat. Effective July... View Article
In late April 2021, Washington state lawmakers approved a new capital gains tax that takes effect on January 1, 2022. The bill imposes a 7% tax on long-term capital gains exceeding $250,000, such as on profits on the sale of stocks, bonds, and businesses. Supporters of the capital gains tax see it as a solution... View Article
The superpowers needed to be a working mother are unmatched by any known force. Working mothers have taken on more responsibilities as the pandemic has uprooted their lives, managing remote learning schedules and juggling childcare needs. Our team honors and commends working mothers, praising their value and commitment to both family and professional life. You... View Article
Despite the push in recent years for increased gender equality in the workplace, many company boardrooms are still largely male-dominated. In June of 2020, Governor Jay Inslee signed SSB 6037 into law in an effort to recognize the many qualified women in the Pacific Northwest. Developed by the Washington State Women’s Commission, the law aims... View Article
While 2021 isn’t off to the start we all hoped it would, there is good news on the horizon. Health care workers and other high-risk individuals are now getting the Moderna or Pfizer COVID-19 vaccine. Most people will likely be able to receive the vaccine by the end of the second quarter 2021. While the... View Article
On January 5, 2021, Governor Jay Inslee announced the “Healthy Washington – Roadmap to Recovery” Covid-19 recovery plan (the “Recovery Plan”). The plan presents a phased reopening of certain businesses and activities based on key health metrics in each Washington county. The Recovery Plan will officially go into effect on January 11, 2020, and all... View Article
