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Corporate Transparency Act Disclosure Requirements

Corporate Transparency Act Disclosure Requirements

Authored by Sara Mostafa The following intends to summarize the requirements for compliance with the new beneficial ownership reporting requirement of the federal Corporate Transparency Act. Feel free to reach out to Lobb & Plewe, LLP with any questions. In 2021, Congress passed the Corporate Transparency Act, which creates a new beneficial ownership information reporting

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The Lobb Report October 2023 Business Owner Updates

The Lobb Report – October 2023 Business Owner Updates

Authored by Mark Lobb Welcome to the October version of The Lobb Report.  This edition covers tax deadlines, business owner taxation, estate planning and employment law issues.    In this edition, you can expect a comprehensive overview of an upcoming Supreme Court case along with recent legislative changes and their potential impact on your business operations,

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Incomplete Non-Grantor Trusts The Past, Present and Future

Incomplete Non-Grantor Trusts
The Past, Present and Future

Authored by Mark Lobb At the end of June 2023, the California Senate and Assembly passed legislation which will eliminate the use of incomplete non-grantor trusts (ING or INGs) to prevent California taxpayers from incurring California state tax under certain circumstances (SB 131).  California SB 131 tracks New York legislation (Part Q of the Fiscal

Incomplete Non-Grantor Trusts
The Past, Present and Future
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The Lobb Report - June 2023 Business Owner Updates

Lobb Report – June 2023 Business Owner Updates

Authored by Mark Lobb Incomplete Non-Grantor Trusts Update Recent Lobb Reports have discussed the potential demise of the use by California residents of incomplete non-grantor trusts (INGs). The 2023-2024 California budget proposed treating INGs as grantor trusts so California could tax certain income incurred by the INGs. At the time of this writing, both the

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