Hey, Local Businesses: Federal Court Blocks the Corporate Transparency Act

The latest in a series of quickly moving updates on federal Beneficial Ownership Information (BOI) reporting requirements is good news for small businesses and the fight to stop onerous federal regulations.

December 26, 2024, a federal appeals court decision reversed course from earlier that week, putting the Corporate Transparency Act (CTA) and its BOI reporting requirements on indefinite hold while the courts consider NFIB’s lawsuit challenging the Corporate Transparency Act, Texas Top Cop Shop, Inc., et al. v. Garland, et al.  

As of this update – until or unless the courts decide different...