December 05, 2024
On December 3, 2024, a federal district court in Texas issued a nationwide preliminary injunction, temporarily blocking the implementation of the Corporate Transparency Act (CTA). Under the CTA, certain non-exempt businesses were required to disclose their Beneficial Owners to the Financial Crimes Enforcement Network (“FinCEN”) not later than January 1, 2025. This ruling suspends reporting requirements under the CTA.
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