News Tag: Client Alert

The pre-Christmas lifting of a nationwide preliminary injunction enjoining the federal government from enforcing the Corporate Transparency Act (“CTA”) has itself recently been reversed.  Accordingly, the nationwide injunction against the CTA has been reinstated and companies are again currently not required to make any filings under the CTA.     The State of Play and Next Steps  Among the

On December 23, 2024, the Fifth Circuit Court of Appeals lifted a nationwide injunction by a lower court of beneficial ownership reports (“BOI reports”) under the Corporate Transparency Act (“CTA”).  Our previous alert on the nationwide injunction can be found here.  As a result, entities that were previously required to file these reports under the CTA

On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction enjoining the federal government from enforcing the Corporate Transparency Act (“CTA”).  Accordingly, with the injunction in place, reporting companies that were required to make any filings under the CTA are currently not required to make any

If you own a company with a presence in the US that has less than $5 million in revenue and fewer than 20 full-time US-based employees, you likely will have upcoming filing requirements under the Corporate Transparency Act (“CTA”) before the end of this calendar year. As a reminder, the CTA is a new federal

If you own a company with a presence in the US that has less than $5 million in revenue and fewer than 20 full-time US-based employees, this Client Alert contains important information for you. A new federal law took effect on January 1, 2024, and failure to comply with this law could result in fines

On December 22, 2022, then-Attorney General Maura Healey released a revised “Guide for Board Members of Charitable Organizations” (the “Guide,” available here), last updated in 2015, to outline best practices for charitable boards in Massachusetts. The press release regarding the new Guide is available here. The revised Guide includes “a call for boards to emphasize

By: Sharon C. Lincoln, Anita S. Lichtblau, and Stéphanie Smith We are nearing the first anniversary of a first-of-its-kind ruling by the Massachusetts Supreme Judicial Court. The SJC’s ruling in Lynch v. Crawford in December 2019 has particular relevance right now as many nonprofit organizations are facing budget shortfalls due to the COVID-19

By: Sharon C. Lincoln On April 24, 2020, the Paycheck Protection Program and Health Care Enhancement Act (“PPP & HCE Act”), was signed into law. This new federal relief legislation includes $310 billion of additional funding to restart the Paycheck Protection Program (“PPP”). The PPP is an economic stimulus initiative that makes it easier for

By: Eric W. Dyer, Anita S. Lichtblau and Sharon C. Lincoln   The Massachusetts Attorney General’s Office, Non-Profit Organizations/Public Charities Division (the “Division”) has recently released timely and helpful guidance for nonprofit organizations. On April 28, 2020, the Division issued guidance for charities on utilizing endowment funds titled, “Attorney General Guidance on Endowments for Charities

By: Sharon C. Lincoln and Anita S. Lichtblau On Friday April 3, 2020, Governor Baker signed into law emergency provisions that will permit nonprofits organized in the Commonwealth to adapt their governance practices to the unique challenges posed by the current COVID-19 crisis.   One of the key issues the emergency provisions are