Update on the Corporate Transparency Act

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This is an important update on the ongoing legal battle surrounding the Corporate Transparency Act (“CTA”) and the previously issued nationwide injunction that temporarily halted the requirement for companies to file the Beneficial Ownership Information (“BOI”) report with the Financial Crimes Enforcement Network (“FinCEN”). As of February 18, 2025, this nationwide injunction has been lifted, and the requirement for companies …

What the Corporate Transparency Act Means for Small Business Owners

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Starting January 1, 2024, the Corporate Transparency Act (“CTA”) requires that corporations, LLCs, or other state-registered entities disclose the individuals with ownership or controlling interests in the business. As the reporting deadline rapidly approaches, it is crucial for businesses to take action to ensure compliance and to avoid penalties. Determining what is required of your business and what reporting deadline …