New Reporting Requirement in Corporate Transparency Act will Affect Farmers

By Tom Robinson Jan 9, 2024 | 7:42 AM

(NAFB)The Corporate Transparency Act kicks in this year and creates a reporting requirement that many farmers may not know about. Harrison Pittman, Executive Director of the National Agricultural Law Center, talks about the new law on the books.

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The requirement means disclosing information about the beneficial owners of the entities, including single-owner LLCs. Pittman says it’s not just for agriculture.

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The new requirement is expected to impact at least 32.6 million entities. He says the strange thing is no one appears to be telling business owners about the new requirement.

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More information is available at nationalaglawcenter.org.
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Submitted by Chad Smith on Mon, 01/08/2024 – 14:54
Source: NAFB News Service
Audio provided by NAFB News Service
Audio with Harrison Pittman, Executive Director of the National Agricultural Law Center, Fayetteville, Arkansas
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