Chamber of Commerce Hawaii
News
The CTA, BOI and FinCEN: Clearcut Answers for Hawaiian Businesses
The Corporate Transparency Act may require certain U.S. companies to disclose beneficial ownership information to FinCEN to combat financial crimes. While a Texas federal district court’s preliminary injunction puts this requirement on hold, many experts expect that to be overturned. In that event, failure to file could lead to fines of $500 per day, up to a maximum of $10,000, and possible criminal penalties. However, filing your Beneficial Ownership Information (BOI) report will help you avoid fines
Strategies for Your LLC to Flourish for Years to Come
Starting a business as an LLC offers exciting possibilities for growth. However, keeping the LLC in good standing is critical for smooth operations and future potential. Whether new or well-established, every business must prioritize staying compliant with state regulations. Understanding these legal requirements can make managing an LLC much more straightforward. With the right approach, your business can navigate these responsibilities and continue moving forward effectively. Mastering Annual Reports
