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Temporary Pause on BOIR Lifted: Reports Due January 1, 2025 | Harbor Compliance BlogHarbor Compliance Blog
In the latest turn of events, the CTA survives its most significant legal challenge to date. Per the latest ruling, the Corporate Transparency Act (CTA) is enforceable, and the January 1, 2025 deadline is in effect.
Where We Stand on BOI Reporting: Less Than Two Weeks Left in the Year | Harbor Compliance BlogHarbor Compliance Blog
Navigate BOIR Compliance: Understand the latest updates, trends, and filing strategies as the 2025 deadline approaches. Learn about the court injunction, filing requirements, exemptions, and how Harbor Compliance simplifies Beneficial Ownership Information Reporting.
Harbor Compliance Ranked Number 417 Fastest-Growing Company in North America on the 2024 Deloitte Technology Fast 500™ | Harbor Compliance BlogHarbor Compliance Blog
Harbor Compliance today announced it ranked 417th on the Deloitte Technology Fast 500™, a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America.
State-Level BOI Requirements Reinforce the Corporate Transparency Act (CTA) - Blog | Harbor ComplianceBlog | Harbor Compliance
Beneficial Ownership Information (BOI) requirements are a cornerstone of corporate transparency in the U.S. These regulations, introduced at both federal and state levels, are designed to prevent illegal activities such as money laundering and tax evasion by ensuring businesses disclose information about their owners. The District of Columbia (DC), along with states such as South Dakota (SD) and New York (NY) have put their own BOI laws into place, further reinforcing the broader federal mandate. These state-specific requirements emphasize the fact that federal BOI regulations are here to stay—and businesses need to be prepared. District of Columbia BOI Requirements The District of Columbia implemented Beneficial Ownership Information (BOI) requirements in 2020, establishing essential guidelines for businesses registered in the state. Under these regulations, every entity must disclose the names, residence, and business addresses of individuals with direct or indirect, legal or beneficial ... Read More
Oregon Federal Court Upholds the CTA as Constitutional - Blog | Harbor ComplianceBlog | Harbor Compliance
In a recent ruling, a federal court upheld the Corporate Transparency Act (CTA) as constitutional, rejecting claims that the law violated several amendments. The plaintiffs, seven individuals, challenged the CTA, arguing that it infringed on their rights to privacy, free speech, and protection against unfair punishment. However, the court found that the law falls within Congress’ authority and is a necessary tool in combating money laundering, terrorism financing, and other financial crimes. What is the Corporate Transparency Act (CTA)? The CTA was enacted to combat illicit financial activities and enhance national security by protecting legitimate businesses. Over 30 million corporations, LLCs, and other entities must report their beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN), which is approximately 97% of all businesses registered in the US. This information helps law enforcement and national security agencies identify and prevent illegal financial ... Read More
LB102: Nebraska’s New Licensing Requirements for Land Surveyors - Blog | Harbor ComplianceBlog | Harbor Compliance
Recently, Nebraska passed LB102, bringing important updates to the state's land surveying regulations. Here’s a closer look at what the new law means for surveyors practicing in Nebraska.
New Chapter for Harbor Compliance: Labyrinth, Inc. Welcomes Smart Charity - Blog | Harbor ComplianceBlog | Harbor Compliance
We are excited to share an important development in our journey at Harbor Compliance. Labyrinth, Inc., our nonprofit brand, has acquired Smart Charity. This strategic move marks a significant expansion in our ability to provide exceptional nonprofit compliance solutions and support.
BOI Reporting Due Dates Will Not Be Extended, FinCEN States - Blog | Harbor ComplianceBlog | Harbor Compliance
With the deadline quickly approaching, nearly 30 million businesses will need to submit beneficial ownership information (BOI) reports from September to December 31, 2024. Alarmingly, less than 10 percent of the 32.6 million businesses required to file BOI reports have completed their submissions to date.
Harbor Compliance Founder Mike Montali Shares Growth Strategies on The Josh Gerben Show - Blog | Harbor ComplianceBlog | Harbor Compliance
We are excited to share that our founder and CEO, Mike Montali, recently appeared on The Josh Gerben Show to discuss the incredible journey of Harbor Compliance, from its humble beginnings to becoming a trusted partner for 40,000 clients nationwide. The episode, "From 0 to 40,000 Clients with Mike Montali," offers valuable insights into the strategies and lessons that have shaped our success over the past 12 years.
Harbor Compliance Recognized by Inc. Magazine as One of the 5000 Fastest-Growing Private Companies in America for a 6th Year - Blog | Harbor ComplianceBlog | Harbor Compliance
Harbor Compliance, a leading provider of compliance solutions, is thrilled to share that it has once again earned a spot on the prestigious Inc. 5000 list for the sixth year.
Understanding Beneficial Ownership Information Reporting Requirements: Key Insights for Your Company - Blog | Harbor ComplianceBlog | Harbor Compliance
While continuing to implement this new BOI filing requirement, the Financial Crimes Enforcement Network (FinCEN) has added new frequently asked questions to its documentation. Read on for a summary of the updates released in July 2024.
North Carolina Privilege License Requirement Update - Blog | Harbor ComplianceBlog | Harbor Compliance
State privilege license taxes were imposed for the privilege of carrying on business operations in North Carolina. These taxes were in addition to any regulatory or qualification requirements to engage in the practice of a profession, business, or trade.
Georgia Online Application Licensing System Update - Blog | Harbor ComplianceBlog | Harbor Compliance
The Licensing Division of the Georgia Secretary of State’s Office is rolling out a second phase of their new GOALS licensing system in Q2 of this year. The update will impact some licensing boards, and due dates for some professions will be extended as they transition into the new system. We are monitoring the rollout of the GOALS system and will post updates here as Georgia releases more information.
Corporate Transparency Act Deemed Unconstitutional: Implications for Beneficial Ownership Reporting - Blog | Harbor ComplianceBlog | Harbor Compliance
A US Federal District Court has ruled that the Corporate Transparency Act, which requires businesses to disclose personal information to FinCEN, is unconstitutional. The court granted summary judgment for the National Small Business Association (NSBA) in a lawsuit filed in 2022, stating that the CTA unfairly burdens small businesses and could cost an average of $8,000 in the first year of reporting. The ruling permanently enjoins the government from enforcing the CTA against the plaintiff. The decision was made by Judge Liles C. Burke, who released a 53-page opinion on Friday, March 1, 2024.
The New York LLC Transparency Act Requirement - Blog | Harbor ComplianceBlog | Harbor Compliance
In an effort to enhance corporate transparency and combat illicit activities, the Corporate Transparency Act (CTA) was put into effect on January 1, 2024, at the federal level. However, LLCs in New York need to be aware of the recent update specific to the state.
Alabama Annual Report Requirement Update - Blog | Harbor ComplianceBlog | Harbor Compliance
Entities registered in Alabama must be aware of the recent amendment to the annual report requirement. This blog post will provide an overview of the previous requirements, explain the changes made, discuss the filing process, and offer tips for success.
Understanding BOI Reporting Requirements for Nonprofits Under the CTA - Blog | Harbor ComplianceBlog | Harbor Compliance
While the CTA primarily targets for-profit businesses, it's estimated that 2.4 million nonprofits will be impacted by the new legislation. The CTA aims to combat money laundering, terrorism financing, and other illicit activities by mandating the disclosure of beneficial ownership information. Beneficial ownership refers to individuals who ultimately own or control an entity. Under the CTA, organizations must report certain information about their Beneficial Owners to the Financial Crimes Enforcement Network (FinCEN), ensuring transparency and accountability.
Countdown to the Corporate Transparency Act: How to Prepare for Beneficial Ownership Information Reporting - Blog | Harbor ComplianceBlog | Harbor Compliance
The clock is ticking, and the deadline for beneficial ownership information (BOI) reporting is fast approaching. The Corporate Transparency Act (CTA) has brought about significant changes in the regulatory landscape and may have real impacts on teams across your organization. This blog post will dive into what the CTA means for your teams and how it impacts your organization's reporting obligations.
Countdown to BOI Reporting: Current Corporate Transparency Act Timeline - Blog | Harbor ComplianceBlog | Harbor Compliance
We're less than a month away from the Corporate Transparency Act (CTA) coming into effect. While it may feel like Beneficial Ownership Information (BOI) reporting requirements have come out of nowhere, the rules have been developing over several years. This blog post will detail the history of the requirements to help you prepare for the changes that will impact your organization.
FinCEN Extends Deadline for Companies Registering in 2024 to Submit Beneficial Ownership Information Reports - Blog | Harbor ComplianceBlog | Harbor Compliance
The Financial Crimes Enforcement Network (FinCEN) has announced a final rule granting an extension to the deadline for selected reporting companies to file their initial reports on beneficial ownership information (BOI).
Harbor Compliance Ranked Number 466 Fastest-Growing Company in North America on the 2023 Deloitte Technology Fast 500™ - Blog | Harbor ComplianceBlog | Harbor Compliance
Attributes 258% Revenue Growth to Harbor Compliance’s unique muiltistate compliance platform and the expansion of Harbor Compliance Alliance (HCA) partners.
How Mergers & Acquisitions Impact Licenses: A Guide for AEC Firms - Blog | Harbor ComplianceBlog | Harbor Compliance
In this guide, we will explore the intricacies of licensing requirements in the context of M&A activity and provide essential insights for AEC firms considering or currently involved in such transactions.
Mississippi's Biennial Renewal Process for Engineers and Surveyors: What You Need to Know - Blog | Harbor ComplianceBlog | Harbor Compliance
The Mississippi Board of Licensure for Professional Engineers and Surveyors recently made an important announcement that will impact engineers, surveyors, and their firms. They have adopted a biennial renewal cycle for licenses issued by the board.
Asure Software Partners with Harbor Compliance to Help SMBs Streamline Registration Compliance - Blog | Harbor ComplianceBlog | Harbor Compliance
New marketplace partner offers intuitive technology to expedite license and payroll tax registration compliance AUSTIN, Tx. and LANCASTER, Pa. March 30, 2023 Asure Software, Inc. (Nasdaq: ASUR), a leading provider of cloud-based Human Capital Management (“HCM”) software solutions, today announced a strategic partnership with Harbor Compliance. Harbor Compliance is a technology company that enables nonprofits and businesses to maintain compliance throughout the United States. Harbor Compliance solutions simplify licenses and registrations with federal, state, and local governments. As organizations continue to expand remote work options and out-of-state hiring practices, Harbor Compliance and Asure provide a solution for seamless tax payroll registration and compliance with multi-state entity registration requirements. “Out-of-state hiring poses specific challenges for businesses needing to set up tax registrations and process payroll efficiently,” stated James Gilmer, Strategic Partnership Manager of Harbor Compliance. “Growing companies need a solution that keeps pace.” Within the Harbor ... Read More
Best Practices for Managing Individual Licenses - Blog | Harbor ComplianceBlog | Harbor Compliance
Because of the technical knowledge required and the component of public safety involved, firms that provide architecture, engineering, construction, and adjacent services are among the most highly regulated in the country. The primary objective of licensing boards is to ensure that such firms operating in their state are qualified to practice. Professional service firms face complex licensing requirements at the individual level that differ from state to state. The successful management of qualifier licenses is mission critical, as the licensure of these individuals directly impacts the overall standing and reputation of a firm. The consequences of overlooking a renewal or failing to report a change in qualifier within a state’s required timeframe can range from the inability to pursue or get paid for work in new states up to the denial of a firm’s right to practice. Because license statuses are publicly ... Read More
The Employer Tax Retention Tax Credit: Four Things Every Business Needs to Know - Blog | Harbor ComplianceBlog | Harbor Compliance
Businesses that retained paid employees during the COVID-19 pandemic can apply for a refundable tax credit up to $26,000 per employee. Learn how to know whether your business qualifies.