Many of you may have already seen the headlines about the Supreme Court’s decision yesterday that struck down an injunction against the Corporate Transparency Act. Despite that announcement, businesses are NOT required to submit beneficial ownership information right now. FinCEN, the agency responsible for implementing the rule made an announcement shortly after the Supreme Court’s […]
CTA Filing Pause Still in Effect Read More »
House Bill 1483Â was introduced yesterday in the Washington legislature. The Right to Repair bill is sponsored by Representative Mia Gregerson (D-SeaTac), who has authored similar bills since 2018. As you know, our industry had previously been exempted from Washington Right to Repair bills until last year when our exemption language was removed from the bill.
Right to Repair Bill with Industry Exemption Introduced in Washington Read More »
As you are all aware, the impending implementation date of the new earned sick time and minimum wage laws (ESTA) takes effect on February 21, 2025. The most recent FAQ from the Department of Labor and Economic Opportunity can be found here. For a comprehensive overview of the requirements and resources for compliance, we highly recommend
Earned Sick Time and Minimum Wage Bill Moves to House Floor in Michigan Read More »
Today, the Oklahoma legislature is hosting their organizational day. Bills for the upcoming session are already being introduced. One of those early bills filed is SB 377 relating to the Oklahoma Fair Practices for Manufacturers, Distributors, Wholesalers, and Dealers Act. SB 377 is sponsored by Senator Avery Frix (R) who worked with the association on
Equipment Dealer Legislation Introduced in Oklahoma Read More »
In a rapid change of events in the saga that is the Corporate Transparency Act, the 5th Circuit Court of Appeals has reinstated the nationwide injunction. In other words, businesses are NOT required to file a report to FinCEN until the Court hears the merits of the case. The 5th Circuit Court of Appeals will hold
CTA Injunction Second Update Read More »
In a surprise hearing this week, the 5th Circuit Court of Appeals lifted the lower court’s injunction against the Corporate Transparency Act. Once again, businesses are required to file their beneficial ownership report. The agency responsible for accepting beneficial ownership reports, the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN), released guidance following the 5th Circuit Court’s decision. In
CTA Filing Requirements Reinstated With New Deadline Read More »
Yesterday, a federal court struck down the Corporate Transparency Act (CTA) and issued a nationwide injunction against enforcement of the law including its reporting requirements. For dealers that have not reported or are in the onerous process of gathering information for reporting, you no longer have to comply with the January 1, 2025 reporting deadline.
The Corporate Transparency Act and Reporting Requirements Struck Down Read More »
The Inflation Reduction Act (IRA) of 2022 included a wide range of tax deductions and credits. Among them is the Commercial Clean Vehicle Credit found in 26 U.S. Code § 45W that creates a substantial tax credit for businesses purchasing qualified electric vehicles. The maximum tax credit under 45W is determined by gross vehicle weight,
The Corporate Transparency Act (CTA) came into effect January 1, 2024. The CTA requires certain companies doing business in the U.S. to disclose information about their beneficial owners to the Financial Crimes Enforcement Network (FinCEN). The CTA was ostensibly enacted to combat money laundering, terrorism financing, and other financial crimes. The CTA requires a filing
Corporate Transparency Act Reporting Deadline Approaching Read More »
At the end of September, NAEDA received notice from Representative Giovanni Capriglioni (R-District 98) that he was considering introducing Right to Repair legislation in the 2025 Texas legislative session. We were contacted as part of a stakeholder information gathering process to inform potential legislation. This week, NAEDA submitted comments to Representative Capriglioni. You can
NAEDA Submits Comments on Potential Right to Repair Legislation Read More »
