AI Laws Are Here: What U.S. Businesses Need to Know Now

Artificial intelligence is no longer a futuristic buzzword or a side project for tech giants. From hiring and healthcare to marketing and customer service, AI is embedded in the operations of businesses across the country. What many companies still overlook, however, is that AI is already regulated — not just in theory, but in binding laws and… View Article


Enforcement of BOI Reporting under the Corporate Transparency is Mostly Paused . . . For Now

Treasury Department Announces Suspension of Enforcement of Corporate Transparency Act Against U.S. Citizens and Domestic Reporting Companies | U.S. Department of the Treasury If you are unsure if your business still needs to comply with CTA/BOI Reporting, consult with legal counsel.


Before You Use AI, Read the Fine Print

Artificial intelligence tools are revolutionizing business operations, offering powerful capabilities in content generation, customer service, data analysis, and more. However, before integrating AI into your company’s workflow, it’s critical to scrutinize the terms and conditions of the tools you plan to use. Many businesses rush to adopt AI without fully understanding how these platforms handle… View Article


Embracing Data Privacy: What the Minnesota Consumer Data Privacy Act Means for Your Business

In an era where data privacy is increasingly important, many states are considering or have recently passed data privacy laws. Minnesota joins Maryland, Vermont and several other states currently enacting data privacy legislation that take effect between July 1, 2024 and July 2026. California was the first state to pass a modern data privacy act… View Article


Obtaining a FinCEN Identifier (ID)

As the new year has begun, so have the reporting requirements of the Corporate Transparency Act. As a follow up to our September 14, 2022 article “An Introduction to the Corporate Transparency Act,” and our December 23, 2023 article “Basic Overview of the Corporate Transparency Act (CTA),” this article outlines the process of applying and… View Article


Basic Overview of the Corporate Transparency Act (CTA)

As a follow up to our 2022 article “An Introduction to the Corporate Transparency Act,” this article seeks to take a deeper dive into the Corporate Transparency Act (CTA) and its reporting requirements which go into effect January 1, 2024. In an effort to prevent illegal activities, the CTA was passed to improve business activity… View Article


Mergers and Acquisitions: Unique Matters to Consider when Dealing in Aviation

As a buyer, understanding the industry of a target company is key to completing a thorough due diligence process. Knowing the ins and outs of an industry can help identify specific or unique due diligence matters which can raise concerns or other red flags that wouldn’t otherwise arise in another context. This article lists some… View Article


Overview of the Delaware Franchise Tax (Corporations, Limited Liability Companies, Limited Partnerships, and General Partnerships) and Calculating Methods for Corporations

March 1st is an annual date corporations incorporated in the State of Delaware should keep in mind because that is the due date for the Delaware annual report and franchise tax payment. For corporations, the minimum franchise tax payable is currently $175 when using the “Authorized Shares Method” and $400 when using the “Assumed Par… View Article


Entity Conversions: Three Methods to Change the Entity Form of a Business

The form of an entity – corporation, limited liability company (LLC), or other entity type – can impact the development and growth of a business, with its needs evolving through time. Initial considerations that helped shape the entity formation decision at the commencement of a business may give way to other needs, requiring the entity… View Article


50 State Survey – Occasional Sales and Resale Exemptions to State Sales Tax

The majority of states have implemented a sales tax (or its equivalent) on the sale of goods and services within their state. States have also exempted or provided reduced rates for various sale types and entities operating within the state. The 50 state survey provided in this article seeks to summarize the states that provide… View Article