Category Archives: Legislative News

Corporate Transparency Act Event – May 8th, 2024

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The Corporate Transparency Act (CTA), which came into effect on January 1, 2024, marks a significant milestone in the regulation of U.S. businesses. Spearheaded to enhance transparency and combat financial crimes, the CTA introduces stringent reporting obligations for certain businesses, designated as “reporting companies.” These entities are now required to disclose detailed information about their beneficial owners to the Financial Crimes Enforcement Network (FinCEN), a move aimed at peeling back the layers of anonymity that have historically cloaked the ownership structures of many corporations and LLCs. As this legislation unfolds, it’s crucial for businesses to understand their status in relation to the CTA and the specifics of compliance to ensure they operate within the bounds of the law.… Read the rest

The Clock is Ticking: Essential Compliance Strategies for the Corporate Transparency Act

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The Clock is Ticking: Essential Compliance Strategies for the Corporate Transparency Act

The Corporate Transparency Act (CTA), enacted as part of the National Defense Authorization Act for Fiscal Year 2021, marks a significant shift in the reporting requirements for businesses in the United States. For our Chamber members, understanding the Beneficial Ownership Information (BOI) Reporting Requirements is crucial. This blog post aims to demystify these requirements and guide businesses through this new landscape.

Beginning on January 1, 2024, many companies in the United States will have to report information about their beneficial owners, i.e., the individuals who ultimately own or control the company. They will have to report the information to the Financial Crimes Enforcement Network (FinCEN). FinCEN is a bureau of the U.S. Department of the Treasury, which you can learn more about here.… Read the rest

Wilsonville Area Chamber of Commerce Legislative Update….

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The Wilsonville Chamber advocates for business-friendly legislation at the local and state levels of government. We monitor public policy issues, so you can focus on your business, not government regulation.

The WACC Legislative Blog Report was created to serve as an important, bipartisan resource during the current Legislative Session. The Chamber’s goal is to report to our members with timely information to enable you to be well-informed and effectively involved in the legislative process.

2019 Legislative Report – Week 13

1.Revenue. As we’ve noted, there is currently over $5.67 billion in additional revenue proposals that are alive in the legislature. The crown jewel of the revenue proposals is HB 3427, the $2 billion gross receipts tax for K-12 and early education.… Read the rest