Ep. 41 - Explaining The Corporate Transparency Act

A full review of the Corporate Transparency Act and how the mandate affects businesses throughout the U.S. were the topics of this episode of “Building Knowledge With The Building and Realty Institute (BRI).” Carl Finger, Esq., an attorney with Finger and Finger, A Professional Corporation, was the guest. Finger and Finger is based in White Plains in Westchester County in New York State. The firm is Chief Counsel to The Building and Realty Institute (BRI). Topics covered during the show included: 1) A full definition of the act and when it became effective; 2) Why the mandate was created; 3) What types of businesses are affected by the act; 4) The requirements of the mandate; 5) The deadlines for 2024 regarding compliance with the act; 6) The penalties for entities that do not comply with the mandate; 7) Businesses that are exempt from the reporting requirements of the act.