BW INSIGHTS

How Business Entities Held In Trusts are Treated Under the Corporate Transparency Act

By Ingrid Johnson | 05.01.2023
The Corporate Transparency Act (“CTA”) is a new law coming into effect January 1, 2024, that implements reporting requirements for limited liability companies (LLCs), corporations, and other business entities that have never had to report such information previously. BrownWinick attorney Brennan Block outlines the main components of the CTA in... Read More

The Corporate Transparency Act is Here: What You Need to Know

By Brennan Block | 04.25.2023
Much to the dismay of many corporate/transactional law practitioners like me, the burdensome business entity reporting requirements of the recently enacted Corporate Transparency Act (the “CTA”) are here, and it would appear they are here to stay. Under the CTA, which became effective as of January 1, 2024, most business owners will face... Read More

How Your M&A Escrow Can Go Wrong

By William Daniel | 04.03.2023
In the world of M&A transactions, there is always a large debate between buyer and seller on proper security for certain liabilities that the buyer may experience after the closing. A solution very commonly used is to place a certain percentage of the purchase price into escrow with an escrow agent, such as a bank, to hold the money post-closing... Read More

International Investment Considerations: CFIUS

By Greer M. Wellstead | 02.22.2023
When a foreign party is involved in the potential acquisition of or investment in a U.S. business, they are doing much more than just investing in the U.S. Transactions in which a foreign party is involved, may also bring along CIFUS compliance considerations. The Committee on Foreign Investment in the United States (“CFIUS”) is a federal... Read More

Annual Minutes - Are They Worth It? YES.

By Joe Leo | 11.28.2022
As we head into the end of the year, you are likely being bombarded with reminders of house-cleaning items you should address before the calendar turns over. Reviewing your insurance coverage, evaluating your healthcare options for next year, reviewing your retirement accounts, and scheduling time with your tax preparer are all important, and... Read More

New FinCEN BOI Reporting Rule Requires Ownership and Control Disclosures that Previously Allowed for Complete Anonymity in Entity Formation

By Sheridan DeJong | 10.31.2022
On September 30, 2022, the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a final rule (the “Rule”) implementing the beneficial ownership information (BOI) reporting provisions of the Corporate Transparency Act (CTA). The purpose of the rule is to assist FinCEN and other agencies in protecting national security and enhancing... Read More

What Questions Should I Ask Before Dry Leasing an Aircraft?

By Brennan Block | 08.19.2022
I am contacted routinely by individuals that are interested in dry leasing an aircraft for either business or personal use (or both). These individuals have made the decision that they are willing to accept the risks of a dry lease of an aircraft (as opposed to a charter), which includes the party leasing the jet (the “dry lessee”) assuming full... Read More

SBA Opens PPP Forgiveness Portal, But Banks Put on the Brakes

By BrownWinick | 08.12.2020
The Small Business Administration (SBA) officially opened its Paycheck Protection Program Forgiveness Portal to lenders starting on Monday, August 10, 2020. This means that banks who provided loans to small businesses through the Paycheck Protection Program (PPP) may start processing applications from borrowers to have their loans entirely... Read More

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