To be direct, federal oversight is knocking on every small-business door in America — including Florida’s. The Corporate Transparency Act (CTA) took effect January 1, 2024, requiring most companies to disclose their beneficial owners to FinCEN.
What It Requires
If you operate an LLC, corporation, or similar entity, you must file a Beneficial Ownership Information (BOI) report listing those who control or profit from your business.
Why It Matters
Failure to report can mean fines of up to $500 per day and criminal penalties. Transparency may be the goal, but compliance is the burden — and many small businesses don’t yet realize they’re included.
Who Is Exempt?
Public companies, large enterprises with over 20 employees and $5 million in revenue, and regulated industries (like banks) are exempt. Everyone else must report.
How We Can Help
At The Law Office of Anthony Jimenez, we guide Florida business owners through entity formation, governance, and now CTA compliance. Our goal is to keep you protected from penalties so you can focus on growth.
The Takeaway
Transparency should not mean vulnerability. If you own a Florida business, take this law seriously — and act before FinCEN acts for you.
CTA Compliance Review
Get a compliance assessment and avoid penalties while you focus on growth.