What are Companies with Governmental Authority?
Companies with Governmental Authority refers to entities that are created under the laws of the U.S. federal government, state, tribal, or local governments and are empowered to exercise some form of governmental authority. These entities may perform public functions or serve governmental purposes, such as enforcing laws, regulating activities, or providing essential services to the public.
Because of their governmental nature and public accountability, such entities often qualify for exemptions from certain Beneficial Ownership Information (BOI) reporting requirements, as they are inherently transparent and regulated.
This category includes entities like public utilities, certain governmental corporations, and other organizations formed to carry out public or regulatory functions under specific legislative frameworks.
