Attention Business Owners: Corporate Transparency Act Reporting Requirement Suspended, Ruled Unconstitutional
Based on changes to the Corporate Transparency Act (“CTA”), many business entities were faced with filing a report about their “beneficial owners” with the federal government by January 1, 2025 (“BOI Reports”). On December 3, 2024, a Texas federal court ruled that the new CTA reporting requirements are unconstitutional and enjoined the deadline to file […]