"Welcome to Frankfort" New Resident Gift Bag Program

Want to get your business information into the hands of every new Frankfort resident in 2025? The Chamber’s “Welcome to Frankfort” Gift Bag program connects you with newcomers eager to learn about local products and services. When residents set up their utility accounts at Village Hall, they receive a tote bag filled with goodies from our members. If they opt-in for communications, we’ll share their names and addresses with you for follow-up. The cost to participate is $200 for businesses and $50 for non-profits.

Please register by December 31, 2024, and bring us 100-250 items for the bags.

If you need ideas, contact the Chamber. For questions, email Kelsie Diehl at kelsie@frankfortchamber.com.

Federal Court Halts Implementation of the Corporate Transparency Acts

A federal court in Texas halted the implementation of the Corporate Transparency Act’s (CTA) beneficial ownership reporting requirements. Holding that the CTA is likely unconstitutional, the court issued a preliminary injunction barring the government from enforcing the CTA and its reporting requirements against anyone. 

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Why it matters: Prior to the ruling, small businesses that met certain criteria would have had to file reports with the Department of the Treasury by January 1, 2025, or risk fines and criminal penalties.

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Looking ahead: The preliminary relief will remain in effect until the conclusion of legal proceedings, at which point the court may enter a permanent injunction. In the meantime, the government will likely appeal the preliminary injunction. 

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Bottom line: Unless and until an appellate court overrules or narrows the injunction, no businesses are obligated to comply with the reporting requirements.

To learn more about what small business owners need to know about the Corporate Transparency Act click HERE.

Pay Transparency in Illinois Starts on Jan. 1, 2025

Beginning January 1, 2025, Illinois employers with 15 or more employees will be required to post the pay scale and benefits for a position on all job postings or disclose this information when requested by an applicant.

HB 3129 defines pay scale and benefits as the wage or salary—or the wage or salary range—and a general description of the benefits and other compensation, including, but not limited to, bonuses, stock options, or other incentives the employer reasonably expects in good faith to offer for the position, set by reference to any applicable pay scale, the previously determined range for the position, the actual range of others currently holding equivalent positions, or the budgeted amount for the position, as applicable. This includes all retirement and health benefits offered for the position. 

To learn more about the pay transparency law and what is required from employers click the button below.