Corporate Formalities - Lamson Dugan & Murray LLP

4 Jan, 2024

Corporate Transparency Act: What You Need to Know

Staff2024-01-04T10:54:30-06:00January 4th, 2024|Corporate Formalities, Corporate Law, Latest News|

Congress passed the Corporate Transparency Act (CTA) to capture more information about the ownership of specific business entities operating in the United States. The CTA accomplishes this by requesting business entities that are deemed "reporting companies" to provide "beneficial ownership information" to the Financial Crimes Enforcement Network (FinCEN). Starting January 1, 2024, existing business entities that are required to report under the CTA have one year to make the initial [...]

Buy-Sell Agreements-An Important Tool for your Construction Company

Craig Martin2020-07-11T09:40:10-05:00July 15th, 2020|Construction Contractor Advisor, Corporate Formalities|

Having a well drafted Buy-Sell Agreement is as important as having the right tool for the job. A recent Nebraska Supreme Court opinion serves as a reminder of this fact or you could spend thousands of dollars and years litigating about rights and interests in the company. This case involved three individuals who owned a construction company in Kearney, Nebraska. The majority shareholder passed away in 2015 and the deceased’s [...]

Corporate Formalities Really Do Matter

Craig Martin2012-04-27T09:13:32-05:00April 27th, 2012|Corporate Formalities|

How long has it been since you reviewed your corporate documents? Are you using the proper corporate name or have you inadvertently confused an LLC with Inc.? As discussed below, it really does matter. A construction company recently found out the hard way that its corporate name really does matter, especially when contracting with the federal government. The construction company was awarded a bid on part of the army construction [...]