Related News & Posts
Will Johnson, Frank Davis Named 2025 Best Lawyers® ‘Lawyer of the Year’ for Economic Development Law for Columbia, Greenville
February 20, 2025
The 2025 edition of Best Lawyers® has named two Haynsworth Sinkler Boyd P.A. shareholders “Lawyer of the Year” for Economic Development Law in their respective regions.Haynsworth Sinkler Boyd Recognized as a 2025 “Best Law Firm” by Best Lawyers®
November 07, 2024
Haynsworth Sinkler Boyd, P.A. has been named a top-tier firm by Best Lawyers® in its 2025 “Best Law Firms” rankings for the 15th consecutive year.New law provides for the ability to place a “Transfer on Death” designation on titled personal property
October 22, 2024
In South Carolina, there's a new law that lets you add a "Transfer on Death" (TOD) designation to the title of personal property like cars, boats, or mobile homes. This means you can name someone to automatically receive the property when you pass away, without going through probate.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.”
41 Haynsworth Sinkler Boyd Attorneys Named 2024 “Legal Elite”
August 08, 2024
Haynsworth Sinkler Boyd, P.A. is pleased to announce that 41 of our attorneys have been named 2024 “Legal Elite” by Greenville Business Magazine, Columbia Business Monthly and Charleston Business Magazine.Haynsworth Sinkler Boyd Welcomes Attorney Mallory Vincelli to Columbia Office
July 17, 2024
Haynsworth Sinkler Boyd P.A. is pleased to welcome Mallory C. Vincelli to our Columbia office.William Johnson Named 2024 Best Lawyers® ‘Lawyer of the Year’ for Business Organizations in Columbia
April 03, 2024
Best Lawyers has recognized Haynsworth Sinkler Boyd, P.A. shareholder William R. Johnson as the 2024 “Lawyer of the Year” for business organizations (including LLCs and partnerships) in Columbia, South Carolina.Haynsworth Sinkler Boyd Welcomes Jonathan Moon in Columbia
February 13, 2024
Haynsworth Sinkler Boyd, P.A. is pleased to announce that Jonathan Moon has joined the firm’s Columbia office. Jonathan is an associate and works with our economic development and M&A practices.Haynsworth Sinkler Boyd Elects Four New Shareholders
January 04, 2024
Haynsworth Sinkler Boyd, P.A. is pleased to announce that Sterling Moose Busbee, Guy M. Dabbs IV, Ronald T. Scott and Cameo Joseph-McCollum have been elected as Shareholders in the firm.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.
