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Beneficial Ownership Information Reporting – Effective January 1, 2024
On January 1, 2024, the Financial Crimes Enforcement Network (FinCEN) Corporate Transparency Act (CTA) beneficial ownership information (BOI) reporting requirements will go into effect.
Below is a Fact Sheet regarding the BOI.
Please note, while Protorae Law, PLLC will not
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Avoiding Premarital Pitfalls – Remillard v. Remillard
Prior to saying, “I do,” some couples make the additional decision to enter into a premarital or prenuptial agreement. These agreements are contracts that allow couples to define their respective financial rights and interests after they become married. Without a …
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Small Business Administration Legislative and Regulatory Update
Significant Regulatory Changes Issued by SBA on October 16, 2020
The Small Business Administration (SBA) released a final rule on October 16 in which it made significant changes to a number of its programs. The highlights are set forth below:…
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Virginia Enacts COVID-19 Emergency Workplace Safety Rules
The Virginia Department of Labor and Industry recently enacted emergency workplace safety rules, §16VAC25-220 Emergency Temporary Standard Infectious Disease Prevention: SARS-CoV-2 Virus That Causes COVID-19, in an effort to mitigate COVID-19 risk to workers. This makes Virginia among the… -
Court Opinion Offers Lesson — Why Fully Anticipating What Can Happen in the Future is Key to Drafting Successful Spousal Support Agreements
A recent court opinion denied a husband’s request to reduce his spousal support, finding his written agreement with his former wife demonstrated that they anticipated she may start working after their divorce. It is thus important when drafting a Spousal …
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Precision Matters in Property Settlement Agreements
Imagine paying Spousal Support for years, and when you reach the finish line of spousal support at your year of retirement, you try to get ahead by working a few extra years instead of retiring. Sounds reasonable, right? That’s exactly …
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New Restrictions on Non-Compete Agreements for Lower-Income Workers in VA (and New Obligations for their Employers)
With all the disruption of COVID-19, some recent developments in Virginia’s employment law may have been overlooked by employers. Among those, Virginia enacted a new law that goes into effect on July 1, 2020 banning covenants not to compete (commonly …
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Updated SBA Certification Review Procedure Announced
On May 5th, 2020, the Small Business Administration (SBA) and Treasury Department issued updated Paycheck Protection Program (PPP) FAQs. At that time, many businesses that had submitted a PPP loan application were considering whether they should return …
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IRS Employee Retention Credit FAQs Provide Some Guidance for Employers
The IRS has posted FAQs for the Employee Retention Credit (ERC) included in the Coronavirus Aid, Relief, and Economic Security (CARES) Act enacted on March 27, 2020. FAQ topics provide the latest perspective of the Treasury Department regarding eligibility requirements, …
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Impact of COVID-19: New Federal Requirements Pertaining to FMLA and Sick Leave
Congress has made dramatic changes to paid leave requirements that every small and medium-size business must quickly understand. At Protorae Law, we have been monitoring this legislation since it was introduced, and we are ready and committed to providing our …
Protorae Business Briefs
Providing insight on legal issues impacting businesses, our blog focuses on Corporate & Business Entities, Government Contracts, Employment Law, Intellectual Property and Technology Law, Business Litigation, Real Estate and Land Use, Trusts and Estates and Tax Law to help you navigate the business world.