Galt's Gulch

Corporate Transparency Act ... targeting individuals with ambitions

Posted by eckert16 1 year, 9 months ago to Government
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Entrepreneurs are being targeted.

Just like all other deceptive pieces of legislation, the name is opposite of what it does. This Act doesn’t target the ‘so called’ big “CORPORATIONS” that socialist decry…

Article presents overview of the Act...

REQUIRES positive ID (name, birthdate, photo ID, residential physical address, business address, etc) of INDIVIDUALs that own/operate/control a Small Business legally registered in any state (<$5M year, <20 employees, in a State).

Supposedly to fight criminal money laundering. But the real target seems to be any individual with ‘ability’ that seeks to become independent thru their own hard work and their own enterprise in the country.

An Entrepreneur.

Requires positive photo identification, to include their physical residence…sort of like the requirement instituted by Big Gov to identify people that choose to exercise a certain right enshrined as an amendment to the constitution.

Simple article. Huge implications given the history of the Fed Gov requiring Positive Identification.


https://learn.american-apartment-owne...

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  • Posted by eckert16 1 year, 9 months ago
    ...every existing, amended or new corporation, Limited Liability Company or other entity created by filing registration documents with a secretary of state (or foreign entity registering to do business in the state), must file with Financial Crimes Enforcement Network (FinCEN): the business name, current address, state of formation and EIN of each entity, as well as the name, birth date, address and government issued photo ID (such as a driver’s license or passport) of every direct or indirect Beneficial Owner of the entity.

    https://www.forbes.com/sites/matthewe...
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  • Posted by eckert16 1 year, 9 months ago
    People may have forgotten about the Corporate Transparency Act because it was enacted by the so called 'BIPARTISAN" Congress way back in January 2021.

    Failure to comply with the CTA’s reporting requirements can lead to civil and criminal penalties, including a maximum civil penalty of $500 per day (up to $10,000) and imprisonment for up to two years.

    https://www.fincen.gov/boi
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  • Posted by LibertyBelle 1 year, 9 months ago
    Well, people need to learn not to be deceived by the official name given to a legislative proposal (such as "Inflation Reduction Act". Also, if a representative is sent into Congress, and a bill is up for a vote, if it is 1,000 pages long, he should automatically vote against it. If I were President (ha-ha) and such a bill came before me, it would get an automatic veto. The objection I would send back to the Congress is: that the people are already overburdened with too many laws , regulations, and taxes, and it would not be right to burden them with more. I think that I would refuse to sign any measure more than 4 pages long,(and not promise necessarily to sign any shorter ones, either.)
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