Chamber Members are encouraged to submit member news items, including press releases – up to 250 words, to be published here, displayed as Business News, as well as in our Hudson Valley Business Scene, sent monthly as a digital newsletter.
Article deadlines may vary, and length of content may be altered to fit adequately.
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The CTA, BOI and FinCEN: What Businesses in Poughkeepsie, NY Should Do Now
The Corporate Transparency Act may require certain U.S. companies to disclose beneficial ownership information to FinCEN to combat financial crimes. While a Texas federal district court’s preliminary injunction puts this requirement on hold, many experts expect that to be overturned. In that event, failure to file could lead to fines of $500 per day, up to a maximum of $10,000, and possible criminal penalties. However, filing your Beneficial Ownership Information (BOI) report will help you avoid fines
