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Every week, attorney Sean Bukowski reviews what is going in Austin, San Antonio, Dallas, and throughout Texas. Past topics have included: This is a really quick and easy way to stay on top of commercial real estate trends and topics. Subscribe to our YouTube channel today.

From Public Service to Private Practice: Casey Seeboth's Journey to Bukowski Law Firm

In this episode of Greater Texas, Sean conducts an interview with Casey Seeboth, a recent addition to the Bukowski Law Firm. They examine Casey's background, including his formative years in ...Milwaukee, his educational journey to law school, and his substantial experience at the Texas Department of Insurance. Casey offers valuable insights regarding his transition to private practice at Bukowski Law Firm, where he specializes in litigation and property law. The discussion also addresses the challenges and opportunities confronting Austin as it experiences growth, particularly in relation to environmental issues and infrastructure development.[+] Show More

From Public Service to Private Practice: Casey Seeboth's Journey to Bukowski Law Firm

In this episode of Greater Texas, Sean conducts an interview with Casey Seeboth, a recent addition to the Bukowski Law Firm. They ...

Texas Stock Exchange: A New Challenger Emerges | The Future of Finance in Texas: The TXSE's Impact.

Have you heard about the exciting new development in the financial world? A group of investors is launching a brand-new stock exchange ...

Have you heard about the exciting new development in the financial world? A group of investors is launching a brand-new stock exchange right here in Texas! While it may not ...be as well-known as the New York Stock Exchange just yet, this venture has the potential to shake things up in the industry.

The Texas Stock Exchange: A New Competitor

Set to launch in early 2025, the Texas Stock Exchange (TXSE) aims to provide a fresh alternative for companies seeking to raise capital and for investors looking to trade securities. Based in Dallas, the TXSE will be a fully electronic exchange, offering a more modern and efficient platform.

Why Texas?

You might be wondering why Texas was chosen as the location for this new stock exchange. Well, the state has been experiencing a surge in economic growth and business activity in recent years. With a thriving entrepreneurial culture and a favorable business climate, Texas has attracted numerous companies from across the country and beyond.

Potential Benefits for Companies and Investors

One of the main advantages of the TXSE is the potential for reduced regulations and requirements compared to established exchanges. This could make it more attractive to certain companies, especially smaller, emerging businesses. Additionally, the TXSE could offer new trading products, competitive pricing, and innovative services.

The Future of the TXSE

While it's still early days, the TXSE has the potential to significantly impact the financial landscape. It could attract a diverse range of companies seeking to raise capital and could even divert trading volume away from traditional exchanges. As the TXSE gains traction, we can expect to see how it will evolve and compete with established players.

Conclusion

The launch of the Texas Stock Exchange is a noteworthy development that could have far-reaching implications for the financial industry. As we continue to monitor its progress, it will be interesting to see how it fares as a competitor to established exchanges and what benefits it brings to companies and investors alike.

Stay tuned for updates on the TXSE and other exciting developments in the financial world![+] Show More

Corporate Transparency Act (CTA): A Quick Guide to Compliance

Remember all the buzz about the Corporate Transparency Act (CTA) earlier this year? Well, it's time to dust off those notes because the ...

Remember all the buzz about the Corporate Transparency Act (CTA) earlier this year? Well, it's time to dust off those notes because the deadline is fast approaching. If you're still ...unsure about what the CTA is or what it means for your business, this guide will provide you with everything you need to know.

What is the CTA?

The CTA is a new law designed to combat money laundering and terrorist financing. It requires certain types of businesses to disclose their beneficial owners – the individuals who ultimately control the company. This information is intended to make it harder for criminals to use corporations as fronts for illicit activities.

Who is Affected by the CTA?

The CTA applies to a wide range of entities, including:

Corporations formed under U.S. law
Limited liability companies (LLCs) formed under U.S. law
Certain foreign corporations operating within the United States
However, there are some exemptions, such as nonprofit organizations, banks, and credit unions.

What Information is Required?

The initial report required by the CTA includes the following information for each beneficial owner:

Legal name
Date of birth
Residential address
Country of citizenship or residence
Picture of driver's license or other form of identification
When is the Deadline?

The deadline for filing the initial report under the CTA depends on when the entity was formed or registered:

Entities formed or registered before January 1, 2024: The deadline is December 31, 2024.
Entities formed or registered on or after January 1, 2024: The deadline is 14 days after formation or registration.
Potential Penalties for Non-Compliance

Failure to comply with the CTA can result in significant penalties, including fines of up to $10,000 per day for non-compliance. Additionally, individuals who knowingly provide false or misleading information can face criminal penalties.

What Steps Should Businesses Take?

To ensure compliance with the CTA, businesses should:

Identify their beneficial owners
Collect the necessary information
Prepare and file the required report
Develop procedures for ongoing compliance
Conclusion

The Corporate Transparency Act is a significant piece of legislation that has important implications for businesses. By understanding your obligations and taking proactive steps to comply, you can avoid penalties and contribute to the fight against financial crime.

Need Help?

If you have any questions or need assistance with CTA compliance, please don't hesitate to contact us. Our legal team can guide you through the process and ensure that your business is in full compliance with the law.[+] Show More

Austin & Dallas multifamily market comparison, trends analysis, and why Texas rents are decreasing.

Texas Multifamily Market: A Surprising Shift The Texas multifamily market has long been a beacon of growth and stability. However, ...

Texas Multifamily Market: A Surprising Shift

The Texas multifamily market has long been a beacon of growth and stability. However, recent trends have revealed a surprising shift. While rents have been ...on the rise nationwide, Texas cities like Austin have seen a decline, bucking the national trend. What's causing this divergence, and what does it mean for investors and renters alike?

**The Texas Multifamily Market: A Historical Overview**

Texas has historically been a magnet for population growth, fueled by a strong economy and a favorable business climate. This influx of residents has driven demand for housing, including multifamily units. Consequently, the Texas multifamily market has experienced a period of robust growth and increasing rents.

**The Unexpected Trend: Falling Rents in Austin**
Despite the overall national trend of rising multifamily rents, Austin has seen a notable decline. This is a significant departure from the historical norm and has raised questions about the factors driving this shift.

**Analyzing the Causes**
Several factors may be contributing to the decline in Austin's multifamily rents:

* **Increased Supply:** A surge in new multifamily development projects may be outpacing demand, leading to a decrease in rents.
* **ADU Growth:** The city's pro-growth policies have encouraged the development of accessory dwelling units (ADUs), adding to the housing supply.
* **Economic Factors:** While Austin's economy remains strong, factors such as inflation or changes in employment patterns could influence rental demand.

**The Outlook for Texas Multifamily Rents**
While the current trend in Austin may seem concerning, it's important to consider the long-term outlook. Many experts believe that the decline in rents is likely to be temporary. As the market adjusts to the increased supply and economic conditions stabilize, rental rates are expected to rebound.

The Texas multifamily market is experiencing a dynamic shift, with Austin bucking the national trend of rising rents. While this may seem counterintuitive, it's important to understand the underlying factors driving this change. As the market evolves, investors and renters should stay informed and adapt to the changing landscape.[+] Show More

A Dublin Delight: A Tale of Family, Fun, and Guinness

The Emerald Isle, a land of green hills, ancient castles, and legendary tales, recently welcomed a large American clan on a quest to ...

The Emerald Isle, a land of green hills, ancient castles, and legendary tales, recently welcomed a large American clan on a quest to discover their roots.

Dublin, the bustling capital, served ...as the heart of their adventure. A city steeped in history, Dublin offers a delightful blend of modern amenities and centuries-old charm. From the iconic Trinity College, where the Book of Kells is housed, to the lively Temple Bar district, with its vibrant pubs and street performers, there's something for everyone.

One of the highlights of the trip was a family reunion on a grand scale. With a large extended family, the group was able to reconnect and share stories. The camaraderie and laughter that filled the air were truly heartwarming. The family gathered for meals in cozy pubs, explored the city together, and even took a day trip to the nearby Wicklow Mountains.

While the city's allure was undeniable, the temptation to explore the broader Irish countryside was too strong.** Some members of the group ventured beyond Dublin, discovering breathtaking landscapes, ancient ruins, and charming villages. The Cliffs of Moher, a towering sea cliff on the west coast, and the Giant's Causeway, a UNESCO World Heritage Site, were among the popular destinations.

Of course, no trip to Ireland would be complete without indulging in the local delicacies.
From hearty Irish stew to creamy Guinness, the culinary delights were plentiful. And let's not forget the countless pubs that dot the city, each offering a unique atmosphere and a pint of the black gold. Whether you're seeking a traditional Irish pub with live music or a cozy spot to enjoy a quiet pint, Dublin has it all.

Dublin, a city that seamlessly blends the old and the new, is a must-visit destination. Whether you're seeking a cultural adventure, a family reunion, or simply a relaxing getaway, the Emerald Isle has something to offer everyone. From the friendly locals to the stunning scenery, Ireland is a place that will leave a lasting impression.[+] Show More

What are contractors and subcontractors rights in Texas, Prompt Payment Act TPPA of 2024.

The Texas Prompt Payment Act (TPPA) is a crucial piece of legislation for anyone involved in construction projects within the state. It ...

The Texas Prompt Payment Act (TPPA) is a crucial piece of legislation for anyone involved in construction projects within the state. It establishes specific timelines for payments between owners, contractors, ...and subcontractors, aiming to prevent late payments and financial hardships that can lead to business failures and job losses.

Key Provisions:
Timely Progress Payments: Contractors must make progress payments to subcontractors within a set timeframe after receiving payment from the owner. This timeframe varies depending on the type of project and the terms of the contract.

Retention Limits: The TPPA sets limits on how much an owner can withhold from a contractor, and a contractor can withhold from a subcontractor. This retention is a portion of the contract price held back until the project is completed to ensure performance and protect against defects.
Interest on Late Payments: Late payments can accrue interest, providing a financial incentive for prompt payment. The interest rate is typically higher than the prime rate, making it a significant cost for those who fail to comply.

Subcontractor Lien Rights: Subcontractors may have the right to file a lien against the property if not paid on time. A lien is a legal claim on the property that can be used to enforce payment.

Why is the TPPA Important?
Beyond preventing financial hardships, the TPPA promotes fair business practices by discouraging late payments and encouraging prompt payment of invoices. This can contribute to a more stable and predictable construction industry, fostering economic growth. Additionally, the TPPA can help to prevent disputes and litigation between contractors and subcontractors by providing clear guidelines for payment obligations.

Tips for Compliance:
Understand the TPPA: Familiarize yourself with the specific provisions that apply to your project.

Maintain Accurate Records: Keep detailed records of payments, invoices, and contracts to document compliance.

Communicate Effectively: Address payment issues promptly through open communication with all parties involved in the project.
Seek Legal Advice: Consult with a construction attorney for questions or concerns about the TPPA and its requirements.

By understanding and complying with the Texas Prompt Payment Act, contractors and subcontractors can protect their financial interests, avoid disputes, and contribute to a more stable and prosperous construction industry.[+] Show More

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