You will learn:

Beginning January 1, 2024, most small entities – including single member LLCs – must file online reports with the federal government, disclosing information about the beneficial owners of the entities. This new reporting requirement – estimated to impact at least 32.6 million entities in 2024 – was created by the Corporate Transparency Act (CTA). Entities existing before January 1, 2024, will have until January 1, 2025, to make their first beneficial ownership information report. Entities first created or registered in 2024 will have 90 days from creation to get their first reports filed. All filers will have an obligation to make updates within 30 days.

This webinar reviews the requirements of the CTA by explaining (1) which entities have to file reports, (2) which entities are exempt from filing, (3) who are beneficial owners and company applicants, (4) what information must be disclosed, (5) when must reports and updates be filed, (6) what are the penalties for failing to file or make appropriate updates, and (7) how does this Act impact lawyers and other professionals?

You will hear:

Kristine Tidgren is an adjunct assistant professor in the Agricultural Education & Studies Department and the director for the Center for Agricultural Law and Taxation. Kristine’s work focuses on studying and interpreting laws impacting the agricultural industry. In particular, she focuses on agricultural taxation.

Since joining CALT in 2013, Kristine has written hundreds of articles and blogposts to keep tax professionals, practicing attorneys, producers, and agribusiness professionals informed about legal developments impacting their business. She also writes technical chapters for the National Income Tax Workbook and regular articles for farm publications. In addition to her writing, Kristine speaks to many professionals and producers each year regarding tax and agricultural law topics. She also plans and provides instruction for CALT-hosted seminars, including the annual federal income tax schools.

Kristine teaches AgEds 451, a four-credit agricultural law class to upper-level undergraduate students in the College of Agriculture and Life Sciences. She also regularly collaborates with other agricultural law and tax professionals throughout the country, including those from the Rural Tax Education Committee, the American Agricultural Law Association, and the Land Grant University Tax Education Foundation.  Kristine is licensed to practice law in Iowa and Missouri and is a member of the Iowa Bar Association.

Before coming to ISU, Kristine worked for a legal publishing company and as a practicing attorney. She received her J.D., Order of the Coif, from the University of Texas at Austin and her B.A. in journalism from Iowa State. She grew up on a farm in west central Iowa.

You can review:

• Presentation Slides
• Small Entities Must File New Beneficial Ownership Information Reports in 2024 (Center for Agricultural Law and Taxation)