Blog Posts: Business

In today's rapidly evolving business landscape, many companies are seeking ways to operate not just for profit, but also for a purpose. Arizona has embraced this movement through its recognition of Benefit Corporations, a business structure that enables companies to pursue social and environmental goals alongside financial success.  What Is a Benefit Corporation?...

When forming an Arizona limited liability company (“LLC”) crafting a custom operating agreement is one of the most important steps taken to protect the business and ensure its long-term success. While Arizona law doesn’t mandate having an operating agreement, having one is essential for establishing clear guidelines, defining roles, and safeguarding the integ...

As the April 15, 2025 deadline approaches, it’s essential to be prepared for filing your federal tax return. Whether you're ready to submit your return or need more time, understanding the available options will help ensure a smooth and timely filing process. Filing an Extension If you’re unable to meet the tax deadline, you can request an extension by filing...

On March 21, 2025, FinCEN issued an interim final rule declaring that U.S. companies are no longer included in the definition of a “reporting company” under the Corporate Transparency Act (“CTA”). This means that U.S. companies, including LLCs and Corporations are no longer required to file a beneficial ownership report pursuant to the CTA. Only companies f...

There has been a recent development in the ongoing ride that is the Corporate Transparency Act (“CTA”). A U.S. District Court ruling as of February 18, 2025 put the CTA back into effect with a filing deadline of March 21, 2025 for most companies. There is currently pending legislation before Congress to extend CTA deadlines for companies in existence prior to...

"In light of a recent federal court order, reporting companies are not currently required to file beneficial ownership information with FinCEN and are not subject to liability if they fail to do so while the order remains in force. However, reporting companies may continue to voluntarily submit beneficial ownership information reports." --FinCENThe Corporate Tr...

The Fifth Circuit has removed the nationwide injunction concerning Corporate Transparency Act reporting. The Fifth Circuit’s decision overrides the earlier nationwide relief granted by the district court.Litigation will continue in this matter, but, as of now, the CTA/BOI reporting requirements are active and enforceable. However, FinCEN has granted certain e...

The Corporate Transparency Act (CTA) plays a vital role in protecting the U.S. and international financial systems, as well as people across the country, from illicit finance threats like terrorist financing, drug trafficking, and money laundering.  The CTA levels the playing field for tens of millions of law-abiding small businesses across the United States and...

Update as of 12-30-2024 “In light of a recent federal court order, reporting companies are not currently required to file beneficial ownership information with FinCEN and are not subject to liability if they fail to do so while the order remains in force. However, reporting companies may continue to voluntarily submit beneficial ownership information reports.”...

Whether a customer list is, in fact, a trade secret depends on a two-step analysis to be applied on a case-by-case basis. The first step relates to efforts to keep the list secret. If so, the second step is a four-factor analysis detailed below. First, a trial court must determine whether the customer list has been kept secret or there have been reasonable efforts ...