The Corporate Transparency Act: What You Need to Know
Corporate Law Blog
by Keeana Sajadi Boarman
1M ago
Posted In Compliance, Corporate To download this guide in a printable format, click here. The Corporate Transparency Act (“CTA”) is now in effect, and many business entities must report specific “beneficial ownership information” (“BOI”) to the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) by January 1, 2025, or maybe even sooner. Below is a basic overview of the CTA and how business entities must comply with the new law. More > Tags: beneficial owner, Business Entity, Business entity liability, Corporate, corporate law, Corporate Transparency Act, CTA, Fin ..read more
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Will Your Business Be Affected by Kentucky Revenue Bill Tax Reforms?
Corporate Law Blog
by Kenton L. Ball, Anne-Tyler Morgan
2y ago
Posted In Corporate and Business Tax, Income Tax, Taxation House Bill (HB) 8 has moved to the Kentucky Senate after being passed by the House of Representatives last week. This legislation seeks to transition Kentucky from its reliance on the current income tax-based model to a consumption-based model, gradually decreasing the income tax over the next several years. To replace the income tax revenue, HB 8 expands Kentucky’s 6% sales tax to a wider variety of services provided to consumers by Kentucky businesses. More > Tags: corporate and business tax, HB 8, income tax, sales and use t ..read more
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IRS and KDOR Extend Income/Sales and Use Tax Deadlines for Those Affected by December 10 Storms
Corporate Law Blog
by Kenton L. Ball
2y ago
Posted In Corporate and Business Tax, Disaster relief, Income Tax Following the severe storms, tornados, and flooding that caused catastrophic destruction in parts of western Kentucky and surrounding areas beginning on December 10, the Internal Revenue Service (IRS) has announced that it will be extending many tax-filing deadlines to May 16, 2022 for those affected by the disaster. Similarly, the Kentucky Department of Revenue (KDOR) has announced that it will honor those same extensions for state filing deadlines as well, in addition to other special, Kentucky-only provisions. Here’s what you ..read more
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I Have My LLC — Now What?
Corporate Law Blog
by Keeana Sajadi Boarman
2y ago
Posted In Business Entities, Business Formation and Planning, Small Business You’ve just formed your limited liability company (“LLC”) and you’re finally able to breathe a big sigh of relief. The paperwork is complete, and you can finally get started with your dream business, right? More > Tags: Business, Business Entity, Business Formation and Planning, business plan, Commercial Businesses, Creating a business entity, Creating a small business entity, How to organize or incorporate a business, How to start a small business, Legal requirements for starting a small business, LLC, LLCs ..read more
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The Taxman Still Cometh, but It's a Little Later for Some Kentuckians
Corporate Law Blog
by Kenton L. Ball
3y ago
Posted In Corporate and Business Tax, Taxation Kentucky residents and businesses impacted by late-February storms and flooding can cross looming tax deadlines off their immediate list of worries. For those in impacted counties, the IRS has extended certain deadlines falling on or after February 27, 2021 to June 30, 2021. These include: More > Tags: corporate and business tax, payroll taxes, tax, tax filing ..read more
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New Kentucky Law Protects Businesses from COVID-19 Liability
Corporate Law Blog
by Cynthia L. Effinger, Claire M. Vujanovic
3y ago
Posted In Corporate, COVID-19, Employment Law Kentucky recently joined a growing group of states who have passed measures to protect private businesses from coronavirus-related lawsuits. Senate Bill 5 cleared the Kentucky Senate in early March and the House soon thereafter. It became law on Monday, April 11, without the Governor’s signature. More > Tags: Business entity liability, coronavirus, Corporate, COVID-19, Liability, OSHA, SB 5, Small business liability ..read more
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Deadline to Apply for PPP Loans Extended to May 31, 2021
Corporate Law Blog
by Anne-Tyler Morgan
3y ago
Posted In COVID-19, Employment Law, Payroll Protection Program (PPP) Employers hoping to take advantage of the Paycheck Protection Program in 2021 have a bit more time to apply. On March 30, President Biden signed the PPP Extension Act of 2021, which extends the application deadline to May 31, 2021 and extends the PPP authorization through June 30, 2021 to provide the Small Business Administration additional time to process applications received by the May 31 deadline. More > Tags: employment law for employers, Payroll Protection Program (PPP), PPP ..read more
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New Guidance on Change of Ownership Issues for PPP Loans
Corporate Law Blog
by Anne-Tyler Morgan
3y ago
Under the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act, small businesses around the nation have received Paycheck Protection Program (“PPP”) loans to stay afloat during the pandemic, but the rules regarding these disbursements haven’t always been so clear. On October 2, 2020, the Small Business Administration (“SBA”) issued guidance to all SBA employees and PPP lenders to clarify the requirements around the ownership of businesses receiving PPP loans. More > Tags: Business entities, buy-sell agreement, buyouts, CARES Act, Coronavirus Aid, Relief and Economic Security Ac ..read more
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Federal Reserve Announces Expansion of Main Street Lending Program
Corporate Law Blog
by Anne-Tyler Morgan
4y ago
The Federal Reserve expanded the Main Street Lending Program on Monday, June 8, 2020. The expansion allows for more small and medium-sized businesses to receive support during the COVID-19 pandemic. The Main Street Lending Program was established to support lending to businesses who were in sound financial condition before the pandemic began. More > Tags: coronavirus, Coronavirus Aid, Relief and Economic Security Act, COVID-19, Main Street Lending Program, small business ..read more
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Best Practices for Transitioning to the Virtual Workplace
Corporate Law Blog
by Bruce B. Paul
4y ago
Over the past few months, most businesses have been forced to adapt the way they operate due to the COVID-19 pandemic. A common adaptation has been to move toward a virtual business – for both services and employees. This transition brings a host of new concerns related to cybersecurity and the protection of client, employee, and organization information. More > Tags: Corporate, COVID-19, Cyber Security Risk, cybersecurity, telework, work-from-home ..read more
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