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77 Haynsworth Sinkler Boyd Attorneys Recognized by Best Lawyers
August 15, 2024
Haynsworth Sinkler Boyd, P.A. is proud to announce that Best Lawyers®, a legal peer-review guide, has selected 77 HSB attorneys for inclusion in The 2025 Best Lawyers in America©, including eleven attorneys as “Lawyer of the Year” and fifteen attorneys as “Ones to Watch.”
The Corporate Transparency Act – New Federal Requirements Effective January 1, 2024
January 03, 2024
Important Update:
3/03/2025: On February 27, 2025, FinCEN announced it will not impose penalties on companies that do not submit their beneficial ownership information reports by the March 21 deadline. The agency plans to issue an interim final rule to establish new reporting deadlines no later than March 21 and intends to revise the Beneficial Ownership Information Reporting Rule this year. On March 2, 2025, the Treasury Department clarified that no penalties will be imposed on U.S. citizens or domestic companies, even after the upcoming rule changes. Instead, it will propose new rulemaking to narrow the scope of the requirement to only foreign reporting companies. Additional information can be found on FinCEN’s website at https://www.fincen.gov/. We are closely monitoring developments and legislation and will continue to provide updates on this blog as soon as they are available.
2/20/2025: The injunctions on the Corporate Transparency Act detailed below have all been lifted. As of February 20, 2025, the deadline for most companies to file their BOI Report is March 21, 2025. All companies formed on or prior to February 20, 2025, must file their initial BOI Report, and update any previously filed reports if necessary, by March 21, 2025. All companies formed after February 20, 2025, have 30 calendar days to file their initial BOI Report. Note, if a reporting company’s principal place of business is located in an area designated by both FEMA and the IRS as qualifying an individual for public assistance and filing relief as a result of a hurricane or other natural disaster, the reporting company may have a further extension to file its BOI Report.
1/27/2025: On January 23, 2025, the U.S. Supreme Court granted the government's motion to stay a nationwide injunction issued by the U.S. District Court for the Eastern District of Texas in Texas Top Cop Shop, Inc. v. McHenry (formerly Texas Top Cop Shop, Inc. v. Garland). However, a separate nationwide order in Smith v. U.S. Department of the Treasury from another federal judge in Texas remains in effect. As a result, reporting companies are not currently required to file beneficial ownership information with FinCEN, despite the Supreme Court's decision. They may, however, choose to voluntarily submit these reports.
12/27/24: On December 26, 2024, the United States Court of Appeals for the Fifth Circuit vacated its own stay of the nationwide injunction. Thus, Reporting Companies are not obligated to comply with the Corporate Transparency Act at this time.
12/26/24: On December 23, 2024, the United States Court of Appeals for the Fifth Circuit lifted the nationwide injunction prohibiting the enforcement of the CTA. Thus, Reporting Companies are once again obligated to comply with the Act. Fortunately, however, FinCEN extended the January 1, 2025 deadline for reporting companies to January 13, 2025.
12/3/24: A nationwide preliminary injunction has been issued prohibiting the enforcement of the CTA and the required reporting filed thereunder. This means companies are not currently required to comply with the January 1, 2025 reporting deadline. However, an appeal has been filed by the Department of Justice so the injunction could be lifted or amended at any time. Therefore, we recommend continuing to gather the information needed to complete the report as if the January 1, 2025 deadline were still in effect. It is optional whether you want to go ahead and voluntarily file the BIO report or wait for further court action.
Who is required to file a report?
Beginning January 1, 2024, the Corporate Transparency Act (CTA) imposes significant new reporting requirements on a broad range of corporate entities. With certain exceptions, any domestic entity created by the filing of a document with a secretary of state or any similar office (which would generally include corporations, limited liability companies, limited partnerships, and limited liability partnerships) is a reporting company subject to the reporting requirements. Most “small” entities will be reporting companies. The CTA also applies to foreign entities registered to do business by the filing of a document with a secretary of state or any similar office.
84 Haynsworth Sinkler Boyd Attorneys Recognized by Best Lawyers
August 17, 2023
Haynsworth Sinkler Boyd, P.A. is proud to announce that Best Lawyers®, a legal peer-review guide, has selected 84 attorneys for inclusion in The 2024 Best Lawyers in America©, including eleven attorneys as “Lawyer of the Year” and nineteen attorneys as “Ones to Watch.”85 Haynsworth Sinkler Boyd Attorneys Recognized by Best Lawyers
August 18, 2022
Haynsworth Sinkler Boyd, P.A. is proud to announce that Best Lawyers®, a legal peer-review guide, has selected 85 attorneys for inclusion in The 2023 Best Lawyers in America©, including nine attorneys as “Lawyer of the Year” and eighteen attorneys as “Ones to Watch.”Haynsworth Sinkler Boyd’s Suzi Clawson Elected to the Columbia Museum of Art Board of Trustees
August 24, 2021
Haynsworth Sinkler Boyd is pleased to announce that Suzi Clawson has been elected to the Columbia Museum of Art (CMA) Board of Trustees.82 Haynsworth Sinkler Boyd Attorneys Recognized by Best Lawyers
August 19, 2021
Haynsworth Sinkler Boyd is proud to announce that Best Lawyers®, a legal peer-review guide, has selected 82 attorneys for inclusion in The 2022 Best Lawyers in America©, including five attorneys as “Lawyer of the Year” and eleven attorneys as “Ones to Watch.”Haynsworth Sinkler Boyd Attorneys Present on LLCs
September 23, 2020
Haynsworth Sinkler Boyd’s Scott Barnes, Suzi Clawson and Mac McQuillin recently presented at the South Carolina Bar Association’s virtual CLE on South Carolina Limited Liabililty Corporations.77 Haynsworth Sinkler Boyd Attorneys Recognized by Best Lawyers
August 20, 2020
Haynsworth Sinkler Boyd is proud to announce that Best Lawyers®, a legal peer-review guide, has selected 77 attorneys for inclusion in The 2021 Best Lawyers in America©, including eight attorneys as “Lawyer of the Year” and seven attorneys as “Ones to Watch.”
65 Haynsworth Sinkler Boyd Attorneys Recognized by Best Lawyers
August 14, 2019
Haynsworth Sinkler Boyd is proud to announce that Best Lawyers®, a legal peer-review guide, has selected 65 attorneys for inclusion in The 2020 Best Lawyers in America© and 10 attorneys as “Lawyer of the Year.”
HSB Attorneys Recognized by Best Lawyers
August 15, 2018
Best Lawyers®, a legal peer-review guide, has selected ten Haynsworth Sinkler Boyd attorneys as “Lawyer of the Year” for 2019.
