News & Announcements Archive
ATTENTION ALL BUSINESS OWNERS - VERY IMPORTANT INFORMATION
Posted Thu, Feb. 15, 2024 8:00 am
The Corporate Transparency Act (CTA) was enacted on January 1, 2024, to improve corporate transparency by mandating the reporting of beneficial ownership information (BOI). The CTA aims to prevent the illicit use of companies for money laundering, fraud, and other criminal activities by establishing a comprehensive registry of BOI.
All “reporting companies” are required to file a BOI with the Financial Crimes Enforcement Network (FinCEN). A “reporting company” is a corporation, limited liability company, and any other entities created by the filing of a document with a secretary of state or any similar office in the United States, that does not otherwise qualify for an exemption. There are 23 types of entities that are exempt from reporting, mostly for those that are already subject to substantial federal or state regulation.
BOI’s provide information about the business entity itself and two categories of individuals: (1) Beneficial owners, and (2) Company applicants.
(1) Beneficial Owner:
A beneficial owner is an individual who either directly or indirectly: (1) exercises substantial control over the reporting company, or (2) owns or controls at least 25% of the reporting company’s ownership interests.
An individual can exercise substantial control over a reporting company in four different ways:
1. The individual is a senior officer (the company’s president, chief financial officer, general counsel, chief executive office, chief operating officer, or any other officer who performs a similar function).
2. The individual has the authority to appoint or remove certain officers or a majority of directors of the reporting company.
3. The individual is an important decision-maker for the reporting company.
4. The individual has any other form of substantial control over the reporting company as explained further in FinCEN’s Small Entity Compliance Guide attached to this email.
The BOI reporting is not an annual requirement unless the filer needs to update or correct information.
Reporting companies established or registered before January 1, 2024, must file their initial BOI report by January 1, 2025. Reporting companies established or registered in 2024 have a 90-calendar-day window to file after receiving actual or public notice of their creation or registration's effectiveness. Reporting companies established or registered on or after January 1, 2025, must file within 30 calendar days after receiving actual or public notice of their creation or registration's effectiveness.
The willful failure to report complete or updated BOI to FinCEN, or the willful provision of or attempt to provide false or fraudulent beneficial ownership information may result in a civil or criminal penalties, including civil penalties of up to $500 for each day that the violation continues, or criminal penalties including imprisonment for up to two years and/or a fine of up to $10,000. Senior officers of an entity that fails to file a required BOI report may be held accountable for that failure.
More information regarding the BOI reporting requirements can be found at the following link https://www.fincen.gov/boi.
You may file your BOI at the following link https://boiefiling.fincen.gov.
AS A BUSINESS OWNER YOU ARE RESPONSIBLE FOR DETERMINING WHETHER YOU ARE REQUIRED TO FILE A BOI, FILING IT TIMELY, AND KEEPING IT UPDATE.
If you have any questions or would like assistance with this requirement, please feel free to contact our office and set up a conference with attorney, Leana Brown.
A warm welcome to our newest Associate Attorney, Leana M. Brown!
Posted Fri, Apr. 21, 2023 8:00 am
We are thrilled to welcome attorney Leana M. Brown to GFTY! Leana earned a Bachelor of Arts in Economics and Masters in Corporate Finance at University of Colorado Boulder, and her Juris Doctor from University of Nebraska College of Law in 2022. Leana lives in East Lansing with her sister, Katie, and their two dogs, Marshmellow and Lucy.
NAME CHANGE!
Posted Wed, Feb. 22, 2023 8:00 am
We are excited to share the news about the evolution of our firm! Effective immediately our firm's name has changed from Grua, Tupper & Young, PLC to Grua, Freeman, Tupper & Young, PLC. As always, at Grua, Freeman, Tupper & Young, PLC our commitment to our clients and our community is our highest priority!
Elizabeth Wilbur is Top 5 Under 35!
Posted Wed, Feb. 22, 2023 8:00 am
Congratulations to our very own, Elizabeth Wilbur! She has been chosen as a recipient of the Ingham County Bar Association's 2023 Top 5 Under 35 Award. This award recognized lawyers who have show exemplary character, integrity, judgment, and legal scholarship, an have a reputation for adhering to the highest legal standards and professional responsibility. Well done and well deserved, Elizabeth!
WELCOME, GIANNA PARLOVE!
Posted Wed, Jan. 11, 2023 8:00 am
We are excited to introduce you to our new paralegal, Gianna Parlove! Gianna graduated from Grand Valley State University with a Bachelors in Business Administration and minor in Political Science. At Grand Valley, she excelled in academics and sports-- she received GLIAC All-Academic Excellence Honors and she was a four-year member of the Grand Valley State University Women's Varsity Soccer Team who were the 2019 Division II National Champions! Gianna has her paralegal Certificate from University of California, Los Angeles. She is already off to a great start and we are thrilled to have her as part of our team. Welcome, Gianna!
Congratulation's Jacob B. Greendyk!
Posted Fri, Feb. 18, 2022 8:00 am
Jake has had a heck of a few months! He was sworn in as an attorney in November of 2021, and was promoted in our firm from Law Clerk to Associate Attorney. Then in January, he and his wife, Hannah, welcomed their beautiful daughter, Trina! We are so happy for Jake and proud to have him as part of our GTY team!
Welcome Attorney Elizabeth M. Wilbur!
Posted Thu, Feb. 04, 2021 8:00 am
Please help us welcome our newest attorney to the GTY Team, Elizabeth M. Wilbur! Elizabeth earned her Juris Doctorate Degree, graduating Magna Cum Laude, from Michigan State University College of Law in 2017. She has been in private practice for three years, and has experience in many areas of the law including contract drafting and negotiation, estate planning, probate and trust administration, real estate transactions, general civil litigation and collections. We are so excited to have Elizabeth bring her skills and expertise to our office. Welcome, Elizabeth!
Carrie S. Ihrig Freeman Selected to Join the Joe D. Pentecost Foundation Board!
Posted Thu, Dec. 03, 2020 8:00 am
The Joe D. Pentecost Foundation is a private foundation established in 2002 to support and enrich the educational, social and economic life of the greater Lansing, Michigan area. The Foundation awards grants to qualified nonprofit organizations whose purposes are focused on higher education, alcoholic and drug abuse programs, improvement of after-school learning opportunities, youth education on health issues, scholarships to accredited universities or colleges, and youth agencies. http://jdpfoundation.org/
Carrie is very excited for this opportunity to be a part of such a wonderful organization that helps effectuate positive changes for her community, and we are excited for her too! Congratulations, Carrie!
Thomas M. Tupper - 2020 Super Lawyer!
Posted Tue, Sep. 29, 2020 8:00 am
Congratulations, Thomas M. Tupper! Our very own Thomas M. Tupper was selected to Super Lawyers 2020. The designation means that he is a top-rated attorney as recognized by peers. He was selected to Super Lawyers for 2012 - 2013, and 2019.
Carrie S. Ihrig Freeman has been selected to serve on the Board of Directors for Highfields, Inc.
Posted Thu, Apr. 25, 2019 11:20 am
Highfields, Inc. is an amazing non-profit organization in our community that works to provide opportunities to children, youth and families to become more responsible for their own lives and to strengthen their relationships with others. Highfields helps to stabilize children and families in need, strengthen them with tools to overcome challenges, and empower them to take control of their lives. Highfields was founded in 1962 on the concept that people can change if they have the right opportunities combined with high expectations and positive adult interaction. Since then Highfields has grown from a small residential camp to a multi-purpose, human services organization that serves about 7,000 people each year. Congratulations, Carrie!
Welcome Attorney Brian M. Lum!
Posted Tue, Jul. 24, 2018 9:25 am
Grua, Tupper & Young would like to welcome our newest attorney, Brian M. Lum, to the team! Brian brings a wide array of experience in different areas of law but his primary focus is real estate, business organizations and transactions, and estate planning. Brian previously served as in-house counsel in both the banking and telecom industries and most recently ran his own solo law practice. Brian is a proud Lansing native, a graduate of Lansing Catholic High School, Northwood University and Cooley Law School. We are excited to have him! Call and arrange for a time to meet Brian; he would be happy to help you!
CARRIE S. IHRIG FREEMAN IS A CO-HOST ON THE CAPITOL VIEW!
Posted Mon, May. 14, 2018 10:45 am
Don't forget to tune in and watch Carrie S. Ihrig Freeman Co-Host the Capitol View! The Capitol View airs every: Monday at 9 a.m. on WLAJ (Channel 53 (1053HD)) Tuesday at 1:30 p.m. on the CW (Channel 54 (1054HD)) Sunday at 12:30 p.m. on the CW (Channel 54 (1054HD)) Carrie is also featured in Capital Area Women's Life Style Magazine's May 2018 Edition. Issues are available at several local businesses! Don't forget to grab your issue. https://cawlm.com/capitol-view/
Congratulations, Carrie S. Ihrig Freeman!
Posted Fri, May. 12, 2017 3:00 pm
Carrie S. Ihrig Freeman was appointed by the East Lansing City Council to the City of East Lansing Housing Commission! The Housing Commission advises the City Council on matters pertaining to housing within the city, including neighborhood environmental preservation and programs for housing production and conservation; reviews rental housing licenses and amendments to the housing code.
GTY IS ONE OF THE BEST LAW FIRMS!
Posted Thu, Sep. 08, 2016 10:30 am
Grua, Tupper & Young, PLC was selected as one of the "Best Law Firms" in the 7th Edition of "Best Law Firms" by U.S. News and Best Lawyers!
BEST LAWYERS recognizes REMO MARK GRUA!
Posted Tue, Aug. 23, 2016 1:20 pm
Mark Grua has been selected by his peers to be included in the 23rd Edition of The Best Lawyers in America for his high caliber of work in the practice of Real Estate Law. This is his 5th recognition! The inclusion in Best Lawyers requires a rigorous peer-review survey comprising more that 7.3 million confidential evaluations by top attorneys. Congratulations, once again, Mark!
Carrie S. Ihrig Freeman was elected to the Greater Lansing Estate Planning Council Board.
Posted Mon, Aug. 08, 2016 11:00 am
Carrie S. Ihrig Freeman has been elected to the Board of the Greater Lansing Estate Planning Council (“GLEPC”). GLEPC is a group of accountants, attorneys, financial planners, insurance agents, trust officers, and other advisors who are engaged in estate planning. The mission of GLEPC is to provide a forum for estate planners to meet, discuss, network, and educate each other on topics of interest in their respective fields.
HAPPY ADMINISTRATIVE PROFESSIONALS DAY!
Posted Wed, Apr. 22, 2015 1:50 pm
Just a quick THANK YOU to Beth, Tammy, Diane and Spencer. . . . Thank you for all the little and big things you do for us every day. We appreciate you all so much! ~Mark, Tim, Carrie and Tom
Mark Grua appointed to Horizon Bank-Lansing Advisory Board!
Posted Fri, Jan. 09, 2015 10:15 am
Mark Grua has been appointed to serve as a member of the Horizon Bank-Lansing Advisory Board. Horizon Bank (formerly Summit) is a full-service commercial and retail community Bank offering real estate and consumer loans, and trust services, to its customers, with local offices in East Lansing and Okemos.
JONATHAN E. MAIRE REACHES A MILESTONE!
Posted Mon, Nov. 17, 2014 4:20 pm
Congratulations Jon on 50 Years as a State Bar of Michigan Member!
REMO MARK GRUA Listed in the New Edition of BEST LAWYERS
Posted Wed, Aug. 20, 2014 12:25 pm
Mark Grua has been selected by his peers for inclusion in the 21st Edition of The Best Lawyers in America© in the practice area of Real Estate Law. Best Lawyers® is the oldest and most respected peer-review publication in the legal profession. A listing in Best Lawyers® is a significant honor. Congratulations, Mark!
SUPER LAWYERS Magazine Selects Thomas M Tupper
Posted Tue, Aug. 27, 2013 2:00 pm
Thomas M. Tupper was selected as a Super Lawyer for general personal injury defense law. 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. Congratulations to Tom for demonstrating excellence in your practice.
Timothy P. Young: The Best of the Best!
Posted Thu, Jul. 25, 2013 9:45 am
Congratulations to Tim Young! Tim won the Lansing City Community News' 2013 People's Choice Award for best Lawyer! Tim has been practicing law since 1982. He primarily works in the greater Lansing area, including Ingham, Eaton, Clinton, Shiawassee, and Jackson counties. His practice areas include family law, general civil litigation, estate planning, bankruptcy, and probate court matters. He was a founding Board Member of the Christian Conciliation Service of Central Michigan, and he is an active member of the Spirit of Christ Church of Haslett. Tim is also involved in various charitable and pro bono legal services organizations. Tim is an excellent lawyer, dedicated to his craft. Call Tim for your legal needs.
Grua, Tupper & Young, PLC helps a community bank keep a local business, in business!
Posted Fri, Jul. 19, 2013 12:45 pm
With a team lead by Remo Mark Grua, including Thomas M. Tupper and Carrie S. Ihrig, a local community bank focused on service to and support of local businesses, was able to keep a small business afloat. The Michigan Court of Appeals issued an opinion on July 16, 2013 in which it affirmed the Ingham County Circuit Court’s decision to protect a senior secured lender’s right to enforce its security agreement by continuing to work with a small business borrower on a troubled loan, rather than putting them out of business. The Opinion provides guidance to senior secured lenders, junior creditors and their counsel, in work out and forbearance cases where assets are insufficient to satisfy the demands of creditors.
Probate, Estate Planning & Family Law Representation
Posted Wed, Feb. 23, 2011 3:30 pm
Carrie Ihrig received her Certificates of Completion in the areas of Family Law and Probate and Estate Planning issued by the Institute of Continuing Legal Education and the Family Law and Probate and Estate Planning Sections of the State Bar of Michigan.
Family and Domestic Consultation
Posted Fri, Jan. 09, 2009 4:00 pm
Tim Young is available to provide practical and meaningful consultation on family and domestic matters. Call Beth to set up a time to meet with Tim.
Property Management Service
Posted Mon, Oct. 20, 2008 3:00 pm
We provide effective Property Management Service and stand ready to assist in both commercial and residential landlord/tenant matters. Please contact Carrie to discuss your situation.
