Royal

Amy Royal Selected as a 2021 Super Lawyer!

Oct 13, 2021
Amy Royal

Amy Royal, founder of The Royal Law Firm, has been selected as a Super Lawyer for 2021. Providing legal representation in Massachusetts for a variety of different issues, Super Lawyers are recognized by their peers for their outstanding work and commitment to the spirit of the legal profession. Their knowledge of the law, professional work ethic, and advocacy on behalf of their clients allow them to stand out among other attorneys in the field.

Royal has been recognized as a Super Lawyer since 2014.

Super Lawyers is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement. The selection process includes independent research, peer nominations, and peer evaluations.

Royal represents employers with employment and labor issues. Additional practice areas include commercial litigation, corporate law, and commercial real estate matters.

The Royal Law Firm is a woman-owned, women-managed corporate law firm that is certified as a women’s business enterprise with the Massachusetts Supplier Diversity Office, the National Association of Minority and Women Owned Law Firms, and the Women’s Business Enterprise National Council. Amy can be reached at (413) 586-2288 or aroyal@TheRoyalLawFirm.com

06 Mar, 2024
Walking a Fine Line  By Trevor Brice, Esq.
14 Feb, 2024
Effective January 1, 2024, all businesses conducting and engaging in business within the United States, have one more requirement to add to their list. The Corporate Transparency Act (“CTA”), was passed by Congress in 2021, and recently took effect January 1, 2024. What is it? The Act requires businesses to report their “beneficial owners” to the government through a Beneficial Ownership Information (BOI) report. A “beneficial owner” is someone who owns 25% or more of the business or exercises substantial control over it. The reports are made to the United States Treasury Department’s Financial Crimes Enforcement Network (FinCEN), which has been tasked with maintaining a national registry of beneficial owners of the reporting companies. Why was this passed? The Act is Congress’ attempt to prevent money laundering, terrorism financing, tax fraud, and other illicit activities including human and drug trafficking and securities fraud (aka prevent shell corporations and hiding money). While shell corporations are not illegal, they can be used to engage in activities that shield entities from legal liability, which is disfavored by the government and courts. Certain circumstances actually benefit from the use of a shell corporation, i.e. where companies seek to take advantage of doing business “offshore.” However, the “bad actors” who abuse this business structure have used such strategies for personal gain and, according to the government, hide from legal liability. Who does it effect? The new reporting requirement affects all businesses, corporations, and LLCs, no matter how big or small. It also affects non-US entities that are registered to conduct business with any state or territory within the United States. How do you comply? To remain in compliance with the reporting requirement, business must file the report by year end of 2024. If you create a business this year, 2024, but before January 1, 2025, you will have 90 calendar days after receiving notice of the company’s creation or registration to file the initial BOI report. Notice is actual notice received or public notice by the secretary of state, whichever is earlier. Failure to comply could lead to financial penalties or jail time. Such penalties include felony convictions, $500 daily (for every day of non-compliance) penalty up to $10,000, up to two years in prison. If your business has any questions on this topic or any other matters, please do not hesitate to contact the attorneys at The Royal Law Firm at 413-586-2288.
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