A new federal law requires almost every business entity in Colorado to register with the Treasury Department’s Federal Crimes Enforcement Network or face steep penalties. The Corporate Transparency Act is meant to catch money launderers, but it applies to LLCs, DBAs, and corporations no matter how small they are. Under the law, everyone who has at least a 25% ownership in a company – or who manages a company – has to file a Beneficial Ownership Information report at the U.S. Treasury of Financial Crimes Enforcement Network or face fines of $500 per day up to $10,000 and up to two years in prison. Jacqueline Webster, an artist turned entrepreneur, is among those impacted by the law. She has
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