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Jurisdictional Updates 4-4-22

Newfoundland & Labrador – Bill Creates Individuals with Significant Control (ISC) Registry

As of April 1, 2022, Bill 24 requires most corporations in Newfoundland & Labrador (N&L) to create and maintain a register of Individuals with Significant Control (ISC). The ISC Register should be maintained on a yearly basis. The requirement is to provide greater transparency over who owns and controls business in N&L and exposes money laundering and tax evasion activities. Penalties for non-compliance can be up to $200,000 in fines and 6 months imprisonment for directors, officers or shareholders as well as a $5,000 fine for Corporations that fail to maintain a register.

For additional details, contact your GSC or review the Newfoundland & Labrador website


Arkansas – Franchise Tax Deadline May 2

The Secretary of State posted a reminder to business owners of the May 2 franchise tax deadline and to file online to avoid additional fees, penalties and interest, or revocation of authorization to do business.  More information is available at Attention Business Owners: Franchise Tax Deadline is May 2nd (