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Corporate Transparency Act Update
Reporting companies are not required to file ownership data with FinCEN after a court halted the Corporate Transparency Act (CTA). The Fifth Circuit is reviewing the government’s appeal, with similar challenges in other circuits.
The CTA, passed over a veto, builds on past transparency efforts like the failed ITLEAA (2008) and California’s SB 1201 (2024) and SB 738 (2023).
The Fifth Circuit will decide if the CTA exceeds Congress’s authority or infringes states’ rights. Despite setbacks, momentum for corporate transparency persists.
Real Estate Updates for 2025
Expanded ADU Permitting
AB 2533 extends permitting amnesty for accessory dwelling units (ADUs) built before January 1, 2020, making it easier to legalize older units. This expands on a previous program for units constructed before January 1, 2018. The bill establishes habitability standards for safety assessments and exempts property owners from retroactive impact fees. Proponents believe it will help address California's housing crisis by adding more housing stock.
Protections for Commercial Tenants
SB 1103 introduces new protections for commercial tenants, including notice requirements for lease changes such as rent increases, limits on passing operating fees to tenants, and a translation mandate for leases negotiated in other languages. These changes aim to enhance tenant rights and transparency in lease agreements.
Landlords Reporting Tenant Payments
Under AB 2747, California landlords must offer to report tenants’ positive rental payment history to at least one nationwide consumer reporting agency. Starting April 1, 2025, the offer must be made for new leases at signing and annually for all tenants. This measure aims to help tenants build credit through on-time rent payments.
Starting January 1, 2026, Californians can initiate divorce more collaboratively with the new joint petition process introduced by SB 1427 (Stats. 2024, ch. 190).
Currently, divorces require one spouse to file a Petition and serve a Summons stating, "You Have Been Sued," creating an adversarial dynamic. SB 1427, authored by Sen. Ben Allen (D-Santa Monica), allows both parties to file a joint petition, promoting mutual respect and streamlining the process.
Supporters, including the Los Angeles County Family Law Association, praise this approach for reducing conflict and fostering cooperation, particularly benefiting families with children. The Judicial Council will implement necessary rules and forms by January 1, 2026.
Business Formation
Starting a new business is not just building and buying equipment and fixtures. The foundation of any strong business starts with forming an entity that is best for you. California recognizes many different business structures from Limited Liability Companies to General Corporations, each governed by their own unique set of rules and regulations.
Some of the big issues to consider include: Taxation, Who may Operate; Estate Planning; Personal Liability; Management and Control; and Working capital to name a few.
For example: A new corporation is always formed under the state law and will will be taxed under IRC subchapter C (The Dreaded DOUBLE TAXATION!!!) unless an election is made to be taxed under subchapter S. These and other default rules make hiring a professional essential in taking the first step in starting a successful business.
Starting a new business is not just building and buying equipment and fixtures. The foundation of any strong business starts with forming an entity that is best for you. California recognizes many different business structures from Limited Liability Companies to General Corporations, each governed by their own unique set of rules and regulations.
Some of the big issues to consider include: Taxation, Who may Operate; Estate Planning; Personal Liability; Management and Control; and Working capital to name a few.
For example: A new corporation is always formed under the state law and will will be taxed under IRC subchapter C (The Dreaded DOUBLE TAXATION!!!) unless an election is made to be taxed under subchapter S. These and other default rules make hiring a professional essential in taking the first step in starting a successful business.
Estate Planning tips
I recently worked on a case were the client's mother executed a trust through a non attorney trust creation service. Although the document was well drafted the client's mother was not properly advised as to the execution of the instrument and funding of the trust. The mother neglected to transfer her real property into the trust and when she passed the real property had to go through probate because it was not included in the trust. long story short, you may save money not using an attorney but it may end up costing in the end.
Estate Planning tips
I recently worked on a case were the client's mother executed a trust through a non attorney trust creation service. Although the document was well drafted the client's mother was not properly advised as to the execution of the instrument and funding of the trust. The mother neglected to transfer her real property into the trust and when she passed the real property had to go through probate because it was not included in the trust. long story short, you may save money not using an attorney but it may end up costing in the end.
Evictions and Tenancy
Although the eviction process may seem straight forward i.e. you don't pay rent, you get kicked out, that is not always the case. The eviction process in California is an expedited procedure but the smallest mistake can cause a landlord to have to start all over. Some common mistakes we have seen in self represented cases is improper notice, improper service and improper characterization of tenancy. Take for example a recent case were a beneficiary sublet a trust residence to a third party without the trustee's consent. The terms of the trust prohibited anyone but the beneficiary from living in the residence therefore the sublet was in violation; however, the subtenants did have rights as Tenant at Sufferance.
Evictions and Tenancy
Although the eviction process may seem straight forward i.e. you don't pay rent, you get kicked out, that is not always the case. The eviction process in California is an expedited procedure but the smallest mistake can cause a landlord to have to start all over. Some common mistakes we have seen in self represented cases is improper notice, improper service and improper characterization of tenancy. Take for example a recent case were a beneficiary sublet a trust residence to a third party without the trustee's consent. The terms of the trust prohibited anyone but the beneficiary from living in the residence therefore the sublet was in violation; however, the subtenants did have rights as Tenant at Sufferance.
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