William A. Price, Attorney at Law
Congress included the Corporate Transparency Act (CTA) in the National Defense Authorization Act for FY 2021. The legislation requires filing of information on beneficial owners of new (and eventually, of existing) US entities and foreign entities which apply for permission to do business in the US. These requirements will be effective on promulgation of regulations…
(Image by Gerd Altmann from Pixabay ) The CARES Act, Public Law 116-46, signed into law 03/27/2020, see https://www.congress.gov/bill/116th-congress/house-bill/748, expanded unemployment benefits to include business owners and self-employed individuals. This means that you, as an owner or self employed individual with lost income as a result of Coronavirus shutdowns, can apply for Illinois unemployment insurance, in the same…
The Illinois Supreme Court’s decision in Oswald v. Hamer (2018 IL 122203, 115 N.E.3d 181, 425 Ill.Dec. 626 (Ill., September 20, 2018)) upheld a General Assembly action changing the statute which was interpreted to deny a charitable use exemption for a hospital…
Just posted on Slideshare a detailed checklist of business actions, federal and state income and UI and sales tax forms to file, and entity-specific forms to file with the Business Services Division of the Secretary of State in order to close out an Illinois business entity. For details, see http://www.slideshare.net/wpriceiit/filings-required-to-close-out-an-illinois-business-entity