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Corporate Transparency Act Just Got Real For Common Law Trusts

A review of the relevant aspects of the CTA’s final rule.

The federal government has developed yet another tool to help crack down on money laundering—this time by documenting who owns closely held companies. Private companies that are accustomed to the privacy that state law has afforded them will now have to provide key information to the federal government about who actually owns the companies, resulting in a first of its kind centralized repository in the United States for information about private entities. This new tool is the Corporate

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