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Collings Lakes board to explore Corporate Transparency Act filing after counsel and accountant advice
Summary
Board member Donna Sutts asked the association to file Corporate Transparency Act paperwork following recommendations from attorneys and the accountant; a vendor would file for $199 and the board asked the president to gather more information on re-filing requirements.
At the Nov. 4 meeting, board member Donna Sutts requested that the Collings Lakes Civic Association complete filings required by the Corporate Transparency Act, citing recommendations from the association’s attorneys (H and S) and the accountant.
Sutts said a company would complete the paperwork for $199. Minutes record a statement that failure to file could result in a monetary penalty — the minutes state “it is $500.00 per board member per day” if the paperwork is not filed — but the board asked the president to check the precise legal obligations and re-filing requirements when the board composition changes.
Lynn Veneziale asked whether there would be a cost every time the board changes; Slimm said the board had not yet contacted the filing company and would gather full cost and re-filing details before deciding whether to proceed. The minutes show the issue was referred for follow-up rather than resolved at the meeting.
