Regarding the Corporate Transparency Act (CTA) and Beneficial Ownership Information (BOI) report filing, earlier this month, a preliminary injunction temporarily delayed the January 1, 2025, compliance deadline for BOI reporting. However, the U.S. Court of Appeals for the Fifth Circuit has now reinstated the original deadline. This means that the Corporate Transparency Act (CTA) is… Read More

On December 3, 2024, The U.S. District Court for the Eastern District of Texas granted a nationwide preliminary injunction that enjoins the federal government from enforcing the Corporate Transparency Act and its beneficial ownership information reporting requirement. In its ruling, the court determined the CTA and the reporting rule “are likely unconstitutional for purposes of… Read More

The Corporate Transparency Act (“CTA”) was enacted into law as part of the National Defense Act for Fiscal Year 2021. The CTA requires the disclosure of the beneficial ownership information (otherwise known as “BOI”) of certain entities from people who own or control a company. The CTA is not a part of the tax code.… Read More