Peeking Behind the Curtain of The Incorporation Transparency Act
“Pay no attention to that man behind the curtain! The great OZ
has spoken!” – Wizard of OZ, 1939.  There have been tons of
changes to the legal rights of all Americans since 9/11,
initiated by both local and national legislators. It even seemed
a while back that the fries we received with our Happy Meals
were going to become freer than most of us were. Little of what
has occurred has affected startups. However, that might now
change. Senators Levin and Grassley recently introduced a bill
that they titled the Incorporation Transparency and Law
Enforcement Assistance Act. The purpose of the bill is to ensure
that law enforcement authorities can at any time obtain from the
states information about the beneficial owners of corporations
or other business entities. Its purpose is:  “To ensure that
persons who form corporations in the United States disclose the
beneficial owners of those corporations, in order to prevent
wrongdoers from exploiting Un