Part 1: Accelerating Ohio’s Auto Industry On Feb. 16, 2022, State Senator Michael Rulli announced his “Accelerating Ohio’s Auto Industry” bill to assist automakers move into electrical vehicle manufacturing. This announced bill, if passed, will provide $15 million to...
Overlap in the Securities Act of 1934 The Securities and Exchange Commission (SEC) presides over two separate beneficial ownership reporting schemes under Sections 13 and 16 of the Securities Exchange Act of 1934. Although both sections govern disclosure of beneficial...
On Nov. 15, 2021, President Biden signed into law the massive $1.2 trillion bipartisan Infrastructure Investment and Jobs Act (the “Infrastructure Law”). Touted as the single largest investment in American infrastructure in over a generation, the Infrastructure Law’s...
[UPDATED 11/21/2022: FinCEN Published Final Rule] Corporate Transparency Act Overview Part 2: Exemptions This is Part 2 of our three-part series on the Corporate Transparency Act (CTA). The CTA is being implemented by the U.S. Department of Treasury’s Financial Crimes...
[UPDATED 11/21/2022: FinCEN Published Final Rule] Corporate Transparency Act Overview Part 1: Required Disclosures In December 2021, the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) released a notice of proposed rulemaking for companies...
As cryptocurrencies such as Bitcoin rise in popularity, government regulators repeatedly try, and often fail, to control their use as a tax shelter. Agencies such as the IRS struggle with determining the best way to tax cryptocurrency holdings and transactions, and...
The start of 2022 is here, and in addition to the usual beginning-of-year tasks for businesses, every LLC organized or qualified to do business in Ohio should familiarize itself with Ohio’s Revised Limited Liability Company Act (“New LLC Act”), which is now set to...
The Growth of NFTs Non-fungible tokens (NFTs) had their best year ever in 2021. Although the concept of NFTs dates back to 2015, they’re now a mainstream phenomenon with big name brands—such as Asics and Mattel—implementing them in their marketing mix. At its most...
A new tax rule will see the Internal Revenue Service (IRS) gain information on income small businesses receive via transactions on popular payment applications. As of Jan. 1, 2022, businesses that accept more than $600 per year in payments for goods and services...
A recent study found that 16 percent of Americans have invested in, traded or used cryptocurrencies such as Bitcoin and Ether. This widespread use, coupled with the cryptocurrency industry having limited to no regulatory oversight, has caught the attention of...