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The arrival of 2024 brought a new reporting requirement for more than 32 million smaller companies in the United States. The new requirement, which came about as part of the federal Corporate Transparency Act of 2021, means that many companies will now have to report information about their beneficial owners — the individuals who ultimately control the company. With new requirements for companies to collect, document and submit previously unreported information – and with many companies confused about what the law means for them -- legal tech companies are stepping up to help, with new products specifically designed to facilitate understanding and compliance. One company that is taking the lead on this is Wolters Kluwer. It has launched a beneficial ownership platform for legal, compliance and accounting professionals, and enhanced its Legisway platform for corporate legal departments with new beneficial ownership functionality. On today's episode, we'll dig into this new law and its requirements, and hear about how technology is helping companies comply. To do that, host Bob Ambrogi is joined by three executives from Wolters Kluwer: Ross Aronowitz, vice president, law firm segment leader, at CT Corporation. Ken Crutchfield, vice president and general manager of legal markets at Wolters Kluwer Legal & Regulatory US. Cathy Rowe, senior vice president and segment leader, U.S. professional market tax and accounting North America. One further note: Last week, after we recorded this conversation, a federal court in Alabama ruled that the Corporate Transparency Act is unconstitutional. The ruling is limited to the two plaintiffs who filed the suit, and the federal government said it will file an appeal. Meanwhile, it is expected that the government will continue to enforce these new beneficial ownership rules. Thank You To Our Sponsors This episode of LawNext is generously made possible by our sponsors. We appreciate their support and hope you will check them out. Paradigm, home to the practice management platforms PracticePanther, Bill4Time, MerusCase and LollyLaw; the e-payments platform Headnote; and the legal accounting software TrustBooks. Sharefile for Legal: Securely send, store, and share files – plus discover document workflows designed to improve your client experience If you enjoy listening to LawNext, please leave us a review wherever you listen to podcasts.
Engineering firms must navigate a number of government regulations, and that includes obtaining a business license. CT Corporation's Hans Howk walks us through the regulatory environment for engineering businesses, what the process for getting a business license looks like, and the significant consequences for non-compliance.For more information and resources:https://www.wolterskluwer.com/en/expert-insights/business-license-pitfalls-for-architecture-and-engineering-companies
Third party logistics providers, or 3PL's, must meet strict compliance requirements, particularly those doing business in the pharmaceutical industry. In this edition, Wolters Kluwer Manager of Content Management Hans Howk explains what the licensing requirements are for 3PL's and which government agencies will be making sure you are in compliance. He also explains the penalties for licensure non-compliance and how CT Corporation can help you navigate all the complexities that come with this designation.For additional resources, please visit:https://www.wolterskluwer.com/en/expert-insights/third-party-logistics-provider-licensing-requirements
Business licensing can get complicated for insurance businesses, so knowing how to stay compliant is critical. In this edition of "Expert Insights," CT Corporation's Coby Ringgenberg takes us through the importance of insurance firms being properly licensed, the consequences of non-compliance, and how to start and complete the licensing process.For additional resources, please visit:https://www.wolterskluwer.com/en/solutions/ct-corporation/business-license-solutions
Choosing a name for your business is one of the most important decisions any business owner will make. You want it to be memorable and to explain exactly what you do. But naming a business also needs to follow the rules in your state. What do you do if some other business already has the name you want? What is the difference between a legal name and the name the public knows you by? And what words should you be careful not to include in your business name? We discuss all of those questions and much more with Tim Jensen, manager of customer service at CT Corporation.For additional information and resources on naming your business, please visit:https://www.wolterskluwer.com/en/solutions/ct-corporation/business-naming
Choosing a name for your business is one of the most important decisions any business owner will make. You want it to be memorable and to explain exactly what you do. But naming a business also needs to follow the rules in your state. What do you do if some other business already has the name you want? What is the difference between a legal name and the name the public knows you by? And what words should you be careful not to include in your business name? We discuss all of those questions and much more with Tim Jensen, manager of customer service at CT Corporation.For additional information and resources on naming your business, please visit::https://www.wolterskluwer.com/en/expert-insights/assumed-names-dba-what-you-need-to-knowAccess our full library of podcasts for small businesseshttps://www.bizfilings.com/toolkit/guides/podcasts
With a pandemic easing and an economy fighting to recover, law firms are also experiencing a lot of changes. What are the biggest changes that firms are facing? Which parts of the world are seeing the most change? And what opportunities and challenges are law firms seeing right now? We get answers from Devlin Fisher, global sales support manager at CT Corporation.Additional resources on this subject from CT Corporation: https://www.wolterskluwer.com/en/solutions/ct-corporation/global-corporate-services
With a pandemic easing and an economy fighting to recover, law firms are also experiencing a lot of changes. What are the biggest changes that firms are facing? Which parts of the world are seeing the most change? And what opportunities and challenges are law firms seeing right now? We get answers from Devlin Fisher, global sales support manager at CT Corporation.Access our full library of podcasts for small businesseshttps://www.bizfilings.com/toolkit/guides/podcasts
For more and more law firms, growth and expansion often mean doing work in other countries. In this edition of Expert Insights, CT’s Global Sales Support Manager, Rob McHugh, discusses the opportunities and challenges of doing work internationally, and how law firms can structure their internal operations to best address growing global legal work.For additional resources on this subject from CT Corporation:https://www.wolterskluwer.com/en/solutions/ct-corporation/global-corporate-services
As businesses continue to look for global opportunities, the law firms that support them can face their own set of challenges. More and more client work contains an international component for which law firms must be prepared to handle. In this edition of Expert Insights, CT’s Global Sales Support Manager, Devlin Fisher, discusses how the global pandemic has affected business activity and the marketplace, what practice areas are seeing the biggest growth, tackling the global components to client requests, and common issues law firms run into.Additional resources on this subject from CT Corporation: https://www.wolterskluwer.com/en/solutions/ct-corporation/global-corporate-services
Millions of people were forced to work from home in 2020 and now some businesses plan to keep it that way. But what do business leaders need to know to stay compliant when it comes to teleworking employees? CT Corporation’s Compliance Business Consultant Donia Wade explains the compliance areas that you need to know about, when a business license is required for these situations, and what tools can make your compliance easier.Access our full library of podcasts for small businesseshttps://www.bizfilings.com/toolkit/guides/podcasts
Millions of people were forced to work from home in 2020 and now some businesses plan to keep it that way. But what do business leaders need to know to stay compliant when it comes to teleworking employees? CT Corporation’s Compliance Business Consultant Donia Wade explains the compliance areas that you need to know about, when a business license is required for these situations, and what tools can make your compliance easier.For more information on business licenses, please visit https://www.wolterskluwer.com/en/solutions/ct-corporation/business-license-solutions
Collectors Insurance Agency pros discuss ways M&As impact your bonds, licensing and insurance.If a merger or acquisition is in your company’s future, then this episode of ACA Cast titled, “A Closer Look at M&As” is must listen-to podcast for you and your staff. Tune in to hear Collectors Insurance Agency Licensing Manager Angela Butera and Sales Manager Dereck Tessmer answer tough questions about confidentiality and notification requirements associated with all merger and acquisition activities. This podcast is sponsored by CT Corporation. CT Corporation is the leading provider of corporate business compliance solutions in the US and over 150 countries around the globe. Drawing on more than a century of experience, its offerings enable companies to effectively manage statutory representation, service of process, annual report filings and business licenses as required by state and federal law. For more information, visit ctcorporation.com (Angela Butera is pictured)Support the show (http://www.acainternational.org)
Description: When the Coronavirus threat got clearer in early March, businesses around the nation suddenly found themselves preparing for massive changes. CT Corporation immediately swung into action, coordinating and collaborating with all 50 states and the District of Columbia to present business owners with the latest critical information. CT Corporation Senior Manager for Government Relations Alan Stachura explains how his team approached this unprecedented challenge and is still the source to follow during this evolving crisis. https://ct.wolterskluwer.com/covid-19-status?v=895087
Shawn Kastle, principal product manager at CT Corporation, introduces us to IntelliChart, a cutting-edge tool that is already revolutionizing work for law firms around the country. Kastle explains why IntelliChart drastically improves efficiency and reduces of tedious data input and how it puts critical information in front of all key personnel with just a keystroke.
Shawn Kastle, principal product manager at CT Corporation, introduces us to IntelliChart, a cutting-edge tool that is already revolutionizing work for law firms around the country. Kastle explains why IntelliChart drastically improves efficiency and reduces of tedious data input and how it puts critical information in front of all key personnel with just a keystroke.
Lori Ann Fox, regional and government relations attorney for CT Corporation, joins us to discuss the most important factors in choosing a name for your business and the legal steps you must follow to secure and protect that name. Fox explains the due diligence required to determine if a name is available and how to navigate naming issues when expanding to another state.
Tamara Kling, regional and government relations attorney at CT Corporation, explains the importance of establishing your formal business entity and how to determine whether becoming a corporation or a limited liability company is best for you and your business. Kling also details how to formalize your entity, how to expand into other states, and to keep up with compliance requirements.
Alexis Brachel, senior manager in business licenses at CT Corporation, walks us through the different licenses needed to open a restaurant and the lengthy process required to get those licenses before you open the doors. Brachel also offers tips on the proper approach to licensing when opening new locations or undergoing a change in ownership.
Alan Stachura, senior manager of government relations at CT Corporation, shares several reasons why it is advantageous for businesses large and small to set up shop in Delaware. Stachura discusses the attractiveness of Delaware's business entity law, its unique and helpful court system, and the simplicity of compliance with state laws and regulations.
Alexis Brachel, senior manager in business licenses, governance and risk compliance at CT Corporation, walks us through the steps of ensuring compliance is securing a construction business license. She explains the compliance required when expanding a business, reorganizing at your existing site, and keeping up with changing rules.
Alexis Brachel, senior manager in business licenses, governance and risk compliance at CT Corporation, walks us through the steps of ensuring compliance is securing a construction business license. She explains the compliance required when expanding a business, reorganizing at your existing site, and keeping up with changing rules.
Bill Moore, senior manager of transactional business consultants and law firm sales for CT Corporation, walks us through how to conduct due diligence before submitting a Uniform Commercial Code filing Specifically, Moore explains how to find any outstanding liens that could complicate the deal and what business owners and lenders should do if they find some surprises
If you’re looking to expand your business beyond the U.S, Canada is an excellent choice, due to similarities in business regulations and ease of navigating the requirements necessary to set up shop north of the border. Traci Houck of CT Corporation talks about why companies should consider Canadian expansion and how to get started.
Electronic filing and reporting make it easy for small businesses to operate in multiple states. If you’re looking to grow your business outside of the U.S., Canada is a great place to start. Traci Houck of CT Corporation talks about why Canada is a great place for companies to expand their operations without creating a large burden on current operations.
Entity management is essential to the health of your business, whether you’re a small company or a large corporation overseeing multiple entities. CT’s Business Compliance Consultant Sharon Carroll explains some of the basics of entity management, the role it plays in an organization, and how to best manage compliance responsibilities.
When thinking about all you need to do to start your new business, researching the proper business entity might not be at the top of your list, but it should be. Lori Ann Fox, government relations and regional attorney at CT Corporation, details why it is vital for new businesses to establish a formal entity. Fox explains the different types of entities and how to choose the right fit for your business. She also details how the different entities could impact your tax bill and what sort of compliance is necessary long after you open your doors.
CEO JP Werlin, CEO of PipelineDeals talks about the 7 best sales practices for small businesses. Jennifer Friedman of CT Corporation on how women can be taken more seriously in business. Learn more about Don Mazzella's new book, An American Family Sampler. The new fall edition of Small Busines Digest is now available here.
Kim Gilbertson, director of corporate operations for CT Corporation, said the insurance industry continues to be among the largest targets of civil action in the country.