Rapier Law Firm

01/23/2024

There is a new federal reporting requirement for business that became effective January 1, 2024. A summary of the requirements is below. Filing your annual report with the Louisiana Secretary of State does not satisfy the federal requirements. If I can be of help, please don’t hesitate to contact my office at 504-688-2250 or by email [email protected].

BENEFICIAL OWNERSHIP REPORTING (CORPORATE TRANSPARENCY ACT)

The Corporate Transparency Act (CTA) was enacted by Congress on January 1, 2021, as part of the National Defense Authorization Act. The CTA establishes a beneficial ownership reporting requirement for corporations, limited liability companies, and other similar entities formed or registered to do business in the United States. The beneficial ownership reports (BOI report) must be filed with the Financial Crimes Enforcement Network (FinCEN), a bureau within the U. S. Department of Treasury.

This reporting is a federal requirement, not a Louisiana requirement. As such, those who are required to file a report must do so at fincen.gov/boi.

The reporting requirements under the CTA came into effect on January 1, 2024. Business entities formed prior to such date have until January 1, 2025, to comply with the CTA’s reporting requirements.

Any domestic reporting company formed in 2024, must file a BOI report within 90 calendar days of either receiving actual notice that its formation has become effective or the secretary of state or similar office first providing public notice that it has been formed, whichever occurs first.

Reporting companies formed or registered on or after January 1, 2025, will have 30 calendar days to file their initial BOI reports after receiving actual or public notice that the entity has been formed or registered, whichever occurs first.

A reporting company is required to file the BOI report unless an exemption applies.

Again, if I can be of help, please don’t hesitate to contact my office at 504-688-2250 or by email [email protected].

Many companies are required to report information to FinCEN about the individuals who ultimately own or control them. FinCEN began accepting reports on January 1, 2024. Learn more about reporting deadlines.

08/22/2023

The Tax rolls are open in St Tammany. Now is the time to check your assessment.

Wondering about the status of your property assessment? Check your assessment online with this convenient tool from the St. Tammany Parish Assessor's Office

04/01/2022

Wills, Power Of Attorney, and Living Wills OH MY!!!!

Ever wondered what are the documents that everyone should have to have your affairs in order?

Everyone who owns any property, especially if it has a “title” (real estate, boats, cars, etc), or who has investment or bank accounts should have a Will, a Power of Attorney, and a Living Will.

• Living Will: Puts into writing what you want done in the event you cannot speak for yourself when it comes to healthcare decisions. It removes from your loved ones the burden of making those decisions. All they do is implement your decisions.

• Power of Attorney: Allows one to designate a person to make legal decisions if one is no longer competent to do so. The Durable Power of Attorney and the Power of Attorney for Healthcare can be done in the same document.

• Power of Attorney for Healthcare: This document allows one to designate someone to make healthcare decisions for their person.

• Last Will and Testament: Designates to whom your property, both personal and real (land) property will go.

• Funeral Planning Declaration: while not absolutely necessary, this document allows one to say exactly one’s wishes as far as disposition of the body and the services.

If the above documents are done correctly, they help loved ones take care of you when you cannot care for yourself.

A couple of things that most people don’t think of:

• Make a list of all banks and account numbers, all investment institutions with account numbers, lists of credit cards, utility accounts, etc..
• Make sure someone knows where life insurance policies are located.
• Make sure someone knows all your account logins and passwords.
• Place all the titles for vehicles, campers, etc. together and someone knows where they are.

Most importantly, talk with those closest to you and make all your wishes know.

I hope this helps. If you have any questions or concerns, please feel free to call and let us help you work through these important issues.

03/11/2022

Spring is just around the corner but first we have to adjust our clocks for daylight savings time. Be sure to turn your clocks ahead one hour as daylight savings time begins at 2:00 am on Sunday, March 13th.

As a reminder, be sure to replace the batteries in your smoke alarm and if you have a digital thermostat with replaceable batteries, be sure and check or replace those batteries as well.

As always, expert legal advice is always available!

12/23/2021

Wishing everyone a safe and happy holiday season.

10/12/2021

Our humble offices at 1107 Williams Blvd. stay tuned as a corporate makeover will better reflect the new legal tennants. In the meantime, drop in to see how we can help.

10/12/2021

Our humble offices — will soon be taking shape to better reflect the legal tennants. In the meantime, feel free to drop in at 1107 Williams Blvd.

10/09/2021

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