NEW FinCEN FILING REQUIREMENTS FOR PRIVATELY HELD LLCs AND CORPORATIONS

The Corporate Transparency Act (“CTA”) disclosure requirements are set to go into effect January 1, 2024. The Corporate Transparency Act (“CTA”) is a law that was passed in 2021 by the United States Congress which adds a new requirement to the process of forming an LLC or corporation. Beginning January 1, 2024, most small, privately-held […]

Three’s A Crowd: Dissociation Under New Jersey’s RULLCA

Friends get together to discuss a business idea.  The concept sounds great, and everyone anticipates a smooth ride to a successful business and lasting partnership.  The friends decide to form an LLC, but do not engage counsel or enter into a specific, detailed operating agreement, instead choosing a “template” after a Google search.    The partners […]

Important Changes that LLC Members Should be Concerned About Regarding New LLC Law in New Jersey

On March 1, 2014 the New Jersey Revised Uniform Limited Liability Company Act (“RULLCA”) became effective, and the New Jersey Limited Liability Company Act (the “Old Act”) was repealed.  RULLCA has made a number of significant changes in New Jersey limited liability company (“LLC”) law.  This article will examine some of the more important changes […]