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Corporate Transparency Act Beneficial Ownership Reporting Suspended, Held Likely Unconstitutional

December 4, 2024 Business & Tax Blog

A federal district court in Texas has held the Corporate Transparency Act’s beneficial ownership reporting law likely violates the U.S Constitution, justifying a stay and injunction preventing enforcement of the law pending the resolution of the case. As a result, business owners are not required to file “Beneficial Ownership Information…