Chamber News

Under the Corporate Transparency Act (CTA), many small business owners in the United States are required to file beneficial ownership information reports (BOIR) by January 1, 2025. Failure to submit the new paperwork by the deadline puts small business owners at risk of criminal penalties, imprisonment, and fines up to $10,000.

The CTA was enacted in 2021 to help prevent and combat money laundering, terrorist financing, corruption, and tax fraud. Under the CTA, which went into effect on January 1 of this year, businesses must provide their legal name and trademarks, as well as their current U.S. address. They’ll also need to provide a taxpayer identification number and specify the jurisdiction where they were formed or registered.

All businesses that fall under the definition of a reporting company must file a BOIR by January 1, 2025. Reporting companies are those that fall under the following requirements:

• Are for-profit, privately held companies registered to conduct business in the U.S.
• Have 20 or fewer employees or have $5 million or less in gross sales or receipts.

Most applicable businesses must file by January 1, 2025, with two exceptions.

• New companies created between Jan. 1, 2024 and Jan. 1, 2025 need to file within 90 days of formation.
• Companies formed after Jan. 1, 2025 will need to file within 30 days of formation.

There are 23 exemptions for small businesses that will not have to file a BOIR. Find out if your business is exempt here. Publicly traded companies and non-profits do not fall under the CTA, as they are subject to their own reporting requirements.

If this act applies to you, file your report with the Financial Crimes Enforcement Network (FinCEN) here. There are organizations challenging the legitimacy of this act in court, but until a verdict is reached, the deadline applies.

For more information, view the Small Business Administration’s guide for complying with the CTA or their blog post on what every small business should know about the CTA. Reach out to hello@alhambrachamber.org with any questions.

The Alhambra Chamber Board has evaluated its stance on two propositions on the ballot in the upcoming November election, which could have a substantial impact on education and criminal justice within the community. The Board has decided to support both of the following propositions:

Proposition 2: Education Bond 

Proposition 2 would provide $8.5 billion in facility renovations and new construction for TK-12 schools, with 10% of the funds dedicated to small school districts. Community colleges would receive $1.5 billion.

To receive bond money, districts must raise a local bond of their own and then apply to the State Facilities Program for a funding match on a sliding scale up to 65% for renovations and 55% for new construction — 5% more than previous bonds. The exact state match is based on a complicated points formula that seeks to provide a higher match to low-wealth districts that cannot afford to generate much local funding, and those with a high percentage of disadvantaged districts. Districts that are unable to raise more than $15 million can receive up to a 100% match.

Districts can also apply for supplemental funding to help build or renovate transitional kindergarten facilities. This is intended to replace a $550 early education facilities grant that was cut from the governor’s most recent budget.

Proposition 38: Criminal Justice Reform

Allows felony charges and increases sentences for certain drug and theft crimes. Initiative statute:

• Allows felony charges for possessing certain drugs, including fentanyl, and for thefts under $950—both currently chargeable only as misdemeanors—with two prior drug or two prior theft convictions, as applicable. Defendants who plead guilty to felony drug possession and complete treatment can have charges dismissed.

• Increases sentences for other specified drug and theft crimes.

• Increased prison sentences may reduce savings that currently fund mental health and drug treatment programs, K-12 schools, and crime victims; any remaining savings may be used for new felony treatment programs. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: Increased state criminal justice system costs potentially in the hundreds of millions of dollars annually, primarily due to an increase in the state prison population. Some of these costs could be offset by reductions in state spending on local mental health and substance use services, truancy and dropout prevention, and victim services due to requirements in current law. Increased local criminal justice system costs potentially in the tens of millions of dollars annually, primarily due to increased court-related workload and a net increase in the number of people in county jail and under county community supervision. (23-0017A1)

For more detailed information, please download the full text of both propositions below.

Proposition 2: Education Bond
Proposition 38: Homelessness, Drug Addiction, and Theft Reduction Act

A new year is nearly upon us, which means updated legislation. Read about these bills affecting Alhambra businesses coming into effect in 2024.

SB 616: Mandatory Paid Sick Leave Expansion

Beginning January 1, 2024, California employers will be required to provide employees with five days or 40 hours of paid sick leave. For employees/opportunities permitting accrual days, i.e., where an employee accrues one hour for every 30 hours worked, the accrual can be capped at 80 hours or 10 days. See the Governor’s statement here.

SB 848: Reproductive-Related Bereavement Leave

Beginning January 1, 2024, an expansion of the “Bereavement Leave” laws will go into effect. The expansion now includes those who suffer from what is defined as a “reproductive loss event,” such as miscarriage or stillbirth, unsuccessful assisted reproduction, failed surrogacy, or failed adoption.

AB 2188, SB 700: Cannabis Use

After a delay in its implementation, AB 2188 will go into effect on January 1, 2024. The new law affects which tests employers can use to screen employees for cannabis use. Employers can no longer use hair tests to detect cannabis use, as they can stay in samples for weeks. Instead, employers can use only tests that measure psychoactive cannabis metabolites.

This law also creates protections for employees under the California Fair Employment and Housing Act (FEHA). SB 700 prohibits employers from inquiring job applicants about their cannabis use, including in job applications or interviews. Also, SB 700 prohibits information received about the applicant’s cannabis use from criminal history unless the employer is specifically allowed to consider it under the Fair Chance Act (FCA). The FCA strives to minimize unwarranted barriers to employment for individuals with criminal histories.

On April 13, the Alhambra Chamber hosted the 2023 Alhambra State of the City luncheon. This was an opportunity for the business community to hear from the City about its community investment, the city's priorities, and its vision for the coming years. More than 100 business and community leaders gathered at the Granada LA for the presentation from Vice Mayor Ross Maza followed by lunch.

The Alhambra hero Brandon Tsay will be honored by the city for his bravery and quick action that disarmed the perpetrator and kept the community safe. On Sunday, January 29 at 12:30 pm on the main stage of the Alhambra Lunar New Year Festival, leaders from the City of Alhambra will greet and welcome Mr. Tsay, and formally honor his heroism by awarding him a medal of courage from the Alhambra Police Department and other recognitions by local officials. Festival organizers are inviting the public, including residents, business owners, and visitors from throughout Southern California, to watch the ceremony in-person, and express their gratitude as part of the healing that this gathering can provide. 

During the Alhambra Lunar New Year Festival being held on Sunday, January 29, a remembrance ceremony will be held for the victims of the Monterey Park tragedy. Civic leaders will make formal remarks and hold a moment of silence with the assembled residents and visitors. Overall, this will be a slightly more subdued festival than years past, out of respect for the victims, their families, and all those impacted, including the small businesses in the city and region. We welcome everyone across Southern California to come to the festival as a way to heal and express a sense of community during these challenging times.

“Creating community is an important goal under any circumstance. Now we find that the ties between us matter most, because we can face this tragedy together and rise above it. We invite everyone in Southern California to celebrate the new year with us in Alhambra and show our strength and faith in the future,” said John Bwarie, CEO of the Alhambra Chamber of Commerce. 

Visitors will find all the elements of a traditional Lunar New Celebration, including dance, art, candy making, and calligraphy. There are some innovations this year that will benefit those attending, including a wellness pavilion that will provide healthcare testing, vaccines, and consultations. A new culinary stage will feature local chefs and a special segment called “Cooking with the Council,” where council members will prepare their favorite traditional dishes.

The stages and booths are situated along Main Street in downtown Alhambra, where visitors may experience the weekly farmers market and support dozens of local restaurants and businesses along the route. Games for children, giveaways, prizes, and vendors offering food and wares will be among the many booths. In addition, civic and government agencies will be hosting booths to provide valuable resources for the community, including information about employment, the environment, and a wealth of supportive programs.

Make plans to visit the Alhambra Lunar New Year Festival on Sunday, January 29, from 9 AM to 9 PM. The main stage is located at Main and Second Streets.

Festival information is available at alhambralunarnewyear.com.

Congratulations to this year's Alhambra Beautiful 2022 award-winners!

Each year, the Alhambra Beautiful Awards recognize the City’s most beautiful residential and commercial properties, with one residential winner from each of the five council districts and one at-large business. Submissions were accepted throughout the early part of the summer, with submissions sent in from all over the city. This program highlights the care and work that Alhambra home- and business owners take in making Alhambra beautiful. Special consideration was given to those with native and drought-friendly landscaping, and evaluation was made based on nominees descriptions and submitted photos.

Earlier this year, Governor Newsom issued an executive order which called on local water suppliers to move up to Level 2 as it pertained to their drought contingency plans. The public has been asked to take water conservation measures over the past few months and members of our community have found water saving and drought tolerant solutions to up-keep their yards. This year’s winners have won their spot as some of the most beautiful yards in the City because they have demonstrated that, despite the fact that the state is in a drought, there are creative solutions to maintaining one’s outdoor landscaping.

Alhambra Beautiful Awards are co-sponsored by the City of Alhambra and the Alhambra Chamber of Commerce as a civic program to highlight contributions to the city and to inspire all residents to find ways to keep the properties looking welcoming and well-maintained. While there were only six winners this year, all the nominees had worked to demonstrate this commitment to their community.

431 N Hidalgo Ave (District 1)

1153 S 3rd St (District 2)

204 S Marguerita Ave (District 3)

2200 S Campbell Ave (District 4)

416 Westminster Ave (District 5)

Alcole Properties, 606 S 6th Street (at large, business winner)

On May 18, the Alhambra Chamber convened an elite group of Asian-American business leaders in recognition of the significance of AAPI Heritage month in Alhambra and to launch the Asian Business Leadership Council. At this inaugural gathering of the Asian Business Leadership Council, attendees included Angela Chang, Jeffrey Chao, Paul Chen, Sophia Chou, Raymond Ho, Winn Hong, Kent Hsieh, Rayna Ku, Ken Lee, Daniel Lin, Nicolas Lin, Lorraine Sun, Min Thian, William Wei, Carl Wong, Thomas Wong, and more than two dozen others.

“I’m glad we were able to kick off this important initiative during AAPI Heritage month, since so many of our businesses in Alhambra are Asian-owned and we want to provide these respected leaders with a place to connect and together raise their collective voices,” said Chamber President-elect Christopher Teng Balmaseda.

Future meetings of Asian Business Leadership Council will continue to connect these leaders with one another, as well as elevate the voices of the Asian business community with city officials and other policy makers. As the membership of this venerable group expands, it will form an alliance with other esteemed Asian entrepreneurs and organizations in Alhambra, developing the mission and vision of the Council with their insights.

“It’s an honor to be able to focus the Chamber on serving such an important group of entrepreneurs and business leaders in Alhambra. The insights of this group will provide a stronger foundation for our community’s economic future,” noted Chamber CEO John Bwarie.

Initial programming ideas include the participation of local financial institutions and experts to discuss generational wealth planning, capital management, and organizational development. In addition, members will contribute their insights on programs to help smaller, emerging businesses. They will provide guidance on how business leaders can build greater visibility and economic development in Alhambra. This effort will revitalize the interpersonal connections that have waned over the last two years and build new, fruitful connections.

Special acknowledgment goes to Big Catch Seafood House for hosting this event and providing a delectable array of their signature appetizers and other refreshments.

Leaders looking to engage with this esteemed group should contact Cindy Lee at the Alhambra Chamber at clee@alhambrachamber.org.

Starting in June, Alhambrans have a new way to support local family businesses while at the same time creating fun new experiences in your own community. The Alhambra Restaurant of the Week highlights the flavors of your neighborhood with a new restaurant each week. Created and coordinated by the Alhambra Chamber of Commerce, the Restaurant of the Week will showcase the diverse culinary offerings that represent the best of local dining in the City of Alhambra!

To discover the featured eateries in the program, you can visit the new, food-centric Alhambra website: AlhambraEats.com.

As Alhambra continues to be a celebrated dining destination for culinary adventurers from across the region and beyond, this weekly program will highlight the diversity of cuisines that can only be found here. From mainstay classics like Bun N Burger and The Hat to new destinations like Ipoh Kopitiam and Kogane, Alhambra is one of the best eating cities in greater Los Angeles.

Residents and visitors can participate by simply patronizing the designated restaurant during their week, ordering a familiar standby or trying one of the Restaurant of the Week recommendations, and getting to know the business owners, staff, and manager.

You’ll be able to identify featured restaurants with a new designated decal as well as social media posts on Facebook and Instagram throughout their designated week. Then, the information will be accessed in perpetuity on the Alhambra Eats website which will also feature a map, an evolving dining guide, and food and restaurant news.

“This program is as much about the people behind the food, as it is about the food itself,” explained Alhambra Chamber CEO John Bwarie, who created the program to connect community members to the unique people cooking across the city. When a restaurant is featured, the chefs and owners will also be highlighted so you know the creators behind your food.

The Alhambra Chamber of Commerce strives to create a vibrant local economy and build a community where people want to live, work, shop, and dine. AlhambraEats.com and Restaurant of the Week are part of this effort by providing resources, connecting businesses to customers, and creating a resilient community.

“People who eat together are more connected and invested in each other, creating a stronger community,” explained Bwarie, who is committed to curating the list of over 175 restaurants for possible consideration of this weekly designation.