Business law deals with the creation, structuring and maintenance of new and existing businesses and the related issues that arise as businesses interact with the public, other companies and the federal, state and local governments. The Firm’s business law practice draws on a variety of legal disciplines, including (but not limited to):
Tax law
Corporate and partnership law
Intellectual property law
Real estate law
Employment law
Bankruptcy
Debtor and creditor rights law
Business law attorneys specialize in transactional work, meaning they do not represent clients in court. In fact, business lawyers are often hired for their planning and negotiation skills, to avoid future litigation. Business formation of the right entity is a necessary step when opening a business and makes the business a distinct legal entity, separate and apart from its owners. There are five primary types of business formation options: limited liability company (LLC), corporation, limited partnership, general partnership and sole proprietorship.
The business law attorneys of Musgrove Law Firm, P.C. handle all the above issues and more, often acting as the de facto general counsels for our privately-held clients. The Firm’s business attorneys provide business law counsel and bring a collective experience of over 70 years of law practice to bear for our clients. Firm shareholders H. Len Musgrove, Jr. and C. Bruce Willis, II also head the expansive Business Law practice of the Firm.
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Corporate Transparency Act Reporting Requirements Back in Effect with Extended Reporting
Deadline; FinCEN Announces Intention to Revise Reporting Rule
Following the February 18, 2025, decision by the U.S. District Court for the Eastern District of Texas in Smith, et al. v. U.S. Department of the Treasury, et al., 6:24-cv-00336, the Financial Crimes Enforcement Network (FinCEN) has announced that beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act are back in effect, with a new deadline of March 21, 2025 for most companies.
FinCEN has also announced that it will assess its options to further modify deadlines, while prioritizing reporting for those entities that pose the most significant national security risks. FinCEN intends to initiate a process this year to revise the BOI reporting rule to reduce burden for lower-risk entities, including many U.S. small businesses.
Notice: https://www.fincen.gov/sites/
Contact [email protected] for more information!