On Monday, December 23rd, a federal appeals court issued a ruling reinstating reporting requirements under the Corporate Transparency Act (“CTA”), with the Treasury Department’s FinCEN extending key deadlines to accommodate the recent legal uncertainty.
Last week, the US District Court for Eastern District of Texas ruled on reporting under the Corporate Transparency Act, issuing a nationwide injunction against its enforcement. The CTA otherwise required entities to report Beneficial Ownership Information on or before January 1, 2025. While this injunction is not permanent, we will suspend filings for companies until the injunction is overturned on appeal.
Kotz Sangster Wysocki P.C., a leading business law firm based in Detroit, has announced that attorney Douglas Eyre has joined the firm in its Detroit office. Eyre is a seasoned attorney, bringing over 20 years of experience in construction law and commercial litigation to the firm.
Kotz Sangster attorneys, along with colleagues from Plante Moran, presented on the topic of “Succession Planning: Don’t Risk Your Company’s Future” on September 27, 2016. The subject was one of an array of leadership and management sessions included in an annual conference hosted by the Construction Financial Management Association (CFMA). The 2016 Midwest Regional Conference was held in Oak Brook, Illinois.
Moderated by Ed Boucher, speakers included Greg Wysocki and Plante Moran partners. The presentation covered the importance of a family business, options for selling and/or transferring assets, reminders that succession plans are not one-size-fits-all, and the issues to consider when developing a plan. The presenters covered meaningful ideas on how to handle an often difficult subject, as well as a discussion on the importance of identifying and developing future leaders throughout the company.