tb-av
10-02-19, 11:35
If you or someone you know owns a small business really should listen to this.
https://newsradiowrva.radio.com/media/audio-channel/bill-could-hurt-small-businesses
Corporate Transparency Act of 2019
The bill, H.R. 2513,
For the millions of small businesses with up to 20 employees making less than $5 million, get ready for some more paperwork. Failure to comply can result in civil fines of up to $10,000 and criminal penalties of up to three years in prison.
The NFIB is also concerned about the privacy issues of the bill. This legislation will give federal, state, local, or tribal law enforcement agencies broad access to personal information. The NFIB adds, this information can be used, “… for just about any reason — and without a subpoena.”
According to the link above apparently even foreign countries can work through local police to access the database as well.
As might be expected this is coming out of NY but apparently Mark Warner of VA is behind it on the Senate side. I can't seem to find the Senate bill unless it's S. 1978 and that is sponsored by Ron Wyden-D, Marco Rubio-R?, Sheldon Whitehouse - D
That's an interesting trio. Two UberLibs and Rubio
https://www.congress.gov/bill/116th-congress/house-bill/2513/text
https://newsradiowrva.radio.com/media/audio-channel/bill-could-hurt-small-businesses
Corporate Transparency Act of 2019
The bill, H.R. 2513,
For the millions of small businesses with up to 20 employees making less than $5 million, get ready for some more paperwork. Failure to comply can result in civil fines of up to $10,000 and criminal penalties of up to three years in prison.
The NFIB is also concerned about the privacy issues of the bill. This legislation will give federal, state, local, or tribal law enforcement agencies broad access to personal information. The NFIB adds, this information can be used, “… for just about any reason — and without a subpoena.”
According to the link above apparently even foreign countries can work through local police to access the database as well.
As might be expected this is coming out of NY but apparently Mark Warner of VA is behind it on the Senate side. I can't seem to find the Senate bill unless it's S. 1978 and that is sponsored by Ron Wyden-D, Marco Rubio-R?, Sheldon Whitehouse - D
That's an interesting trio. Two UberLibs and Rubio
https://www.congress.gov/bill/116th-congress/house-bill/2513/text