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Commerce Clause Reporting Requirements

Amundsen Davis LLC

U.S. Supreme Court Provisionally Reinstates the Corporate Transparency Act

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The U.S. Supreme Court issued an order on January 23, 2025, which provisionally reinstates the Corporate Transparency Act (CTA) while a legal challenge to it continues. This brief order, which stayed an injunction against the...more

Rivkin Radler LLP

The Status of the Corporate Transparency Act – It’s Not Clear

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Few would argue that the federal government does not have a legitimate interest in preventing, detecting, and punishing tax fraud, money laundering, and other financial crimes. Likewise, I imagine few would disagree with the...more

Neal, Gerber & Eisenberg LLP

CTA Update: DOJ Files SCOTUS Application to Stay Injunction

On December 26, 2024, a merits panel of the U.S. Court of Appeals for the Fifth Circuit reinstated a nationwide injunction against enforcement of the Corporate Transparency Act (CTA) that had been entered by the United States...more

Foster Garvey PC

Fifth Circuit Lifts Stay of Injunction of CTA

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On December 26, 2024, the Fifth Circuit Court of Appeals vacated its stay of the preliminary injunction of the Corporate Transparency Act (“CTA”), 31 U.S.C. § 5336. This decision reinstates the injunction nationwide, meaning...more

Foley Hoag LLP

Fifth Circuit Stays Nationwide Preliminary Injunction that Enjoined Reporting and Enforcement Under The Corporate Transparency...

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On December 23, 2024, a three-judge panel of the U.S. Court of Appeals for the Fifth Circuit (“Fifth Circuit”) issued an Order staying the nationwide preliminary injunction issued earlier in the month by a district court in...more

Morrison & Foerster LLP

Fifth Circuit Lifts Injunction on Enforcement of the Corporate Transparency Act; FinCEN Extends Reporting Deadline

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In a recent client alert, we notified clients that on December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a preliminary injunction against enforcement of the Corporate Transparency Act (CTA) and...more

Holland & Knight LLP

Developments in the Texas Top Cop Shop Case Impact Corporate Transparency Act

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The U.S. District Court for the Eastern District of Texas on Dec. 3, 2024, issued a nationwide preliminary injunction suspending the government's enforcement of the Corporate Transparency Act (CTA) and its Implementing...more

Holland & Knight LLP

Corporate Transparency Act Reporting

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The Corporate Transparency Act (CTA) requires "Reporting Companies" – domestic entities created by the filing of a document with a secretary of state and non-U.S. entities that have registered to do business in the United...more

Benesch

Nationwide Pause of Corporate Transparency Act and BOI Reporting Requirements

Benesch on

Entities subject to CTA coverage should continue to prepare to report BOI to FINCEN. On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction blocking the...more

Whiteford

Client Alert: Federal Court Grants Nationwide Preliminary Injunction Against Corporate Transparency Act

Whiteford on

On December 3, 2024, the U.S. District Court for the Eastern District of Texas, Texas Top Cop Shop, Inc. v. Merrick Garland (Civil Action No. 4:24-CV-478), issued a memorandum opinion and order granting a nationwide...more

Morrison & Foerster LLP

Federal Judge in Texas Issues Nationwide Preliminary Injunction Barring Enforcement of the Corporate Transparency Act

On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a preliminary injunction against enforcement of the Corporate Transparency Act (CTA) and its beneficial ownership information (BOI)...more

Husch Blackwell LLP

New Challenge to the Corporate Transparency Act: Firestone v. Yellen

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On September 20, 2024, a U.S. District Judge for the District of Oregon rejected new challenges to the constitutionality of the Corporate Transparency Act (CTA) in Firestone, et al. v. Janet Yellen, et al. Case No....more

Smith Anderson

The Corporate Transparency Act - Case Law Update and Determining Beneficial Owners

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As discussed in our prior two alerts (found here), effective as of Jan. 1, 2024, the Corporate Transparency Act and rules issued thereunder by the Financial Crimes Enforcement Network (“FinCEN”) (collectively, the “CTA”)...more

Bilzin Sumberg

The Corporate Transparency Act (CTA) Is Unconstitutional—But Only for Some Companies

Bilzin Sumberg on

On Friday, March 1, 2024, a federal judge in Alabama ruled that the Corporate Transparency Act is unconstitutional. See NSBU v. Yellen, No. 5:22-cv-1448, 2024 BL 69366, 2024 Us Dist Lexis 36205 (N.D. Ala. Mar. 01, 2024). Here...more

Perkins Coie

Federal District Court Finds Corporate Transparency Act Unconstitutional: What Now?

Perkins Coie on

The CTA and Legal Challenges - The CTA is a sweeping new anti-money-laundering law that, as of January 1, 2024, requires most entities formed or registered to do business in the United States to disclose detailed...more

Cadwalader, Wickersham & Taft LLP

Court Finds Corporate Transparency Act Unconstitutional and Unenforceable as to NSBA Members

On March 1, 2024, the U.S. District Court for the Northern District of Alabama ruled that the Corporate Transparency Act (“CTA”) is unconstitutional. The CTA requires many U.S. entities to disclose their individual beneficial...more

Falcon Rappaport & Berkman LLP

Constitutional Clash: U.S. District Court Landmark Decision Declares the Corporate Transparency Act Unconstitutional

In 2021, Congress passed the Corporate Transparency Act (CTA), which will be administered and enforced by the Financial Crimes Enforcement Network (“FinCEN”) of the United States Treasury Department, in an effort to implement...more

UB Greensfelder LLP

Corporate Transparency Act Update

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On March 1, 2024, the U.S. District Court for the Northern District of Alabama, Northeastern Division published an opinion finding that the Corporate Transparency Act (the “CTA”) is unconstitutional as exceeding the U.S....more

Venable LLP

Alabama Federal District Court Declares CTA Unconstitutional: Here's What You Need to Know

Venable LLP on

The Corporate Transparency Act (CTA), which became effective on January 1, 2024, was enacted to combat the use of shell companies by those seeking to evade anti-money laundering laws and economic sanctions. ...more

Mayer Brown

Federal Court Declares the Corporate Transparency Act Unconstitutional

Mayer Brown on

On March 1, 2024, the US District Court for the Northern District of Alabama declared the Corporate Transparency Act (“CTA”) unconstitutional, and suspended its enforcement against the plaintiffs in that case. While most...more

Verrill

Constitutional Challenge to the CTA

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Recent Development - On March 1, 2024, a federal court in Alabama ruled that the Corporate Transparency Act violates the U.S. Constitution and is unenforceable on its face. The decision (NSBU v. Yellen) is highly...more

Benesch

Those Subject to the Corporate Transparency Act Should Continue to Comply with its Requirements

Benesch on

Don’t panic! It is business as usual for those subject to the Corporate Transparency Act (the “CTA”). On March 1, 2024, Judge Liles C. Burke of the District Court for the Northern District of Alabama held the CTA...more

Holland & Knight LLP

Federal District Court Finds Corporate Transparency Act Unconstitutional

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The National Small Business Association (NSBA) and a small business owner (also a member of the NSBA) filed a lawsuit on Nov. 15, 2022, in the U.S. District Court for the Northern District of Alabama challenging the...more

Miller Canfield

Cracks in the Corporate Transparency Act?

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On March 1, 2024, an Alabama federal court declared the Corporate Transparency Act (CTA) unconstitutional—but only enjoined its enforcement as to the specific litigants. As described in our prior alerts, the CTA...more

Saul Ewing LLP

Corporate Transparency Act (CTA) Update: Federal Judge Rules CTA Unconstitutional

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The decision of the Federal District Court for the Northern District of Alabama in the case of National Small Business United v. Yellen, announced on Friday, March 1, 2024, has created uncertainty for both reporting companies...more

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