12-4-24 CORPORATE TRANSPARENCY ACT BLOCKED NATIONWIDE BY COURT
The Corporate Transparency Act (CTA) was preliminarily blocked nationwide by a Texas federal court yesterday. The court’s ruling temporarily prevents the government from enforcing the CTA, pending further order of the court. Accordingly, entities are not currently required to comply with the CTA’s beneficial owner reporting requirements. Note that the CTA compliance and reporting requirements remain subject to change as legal challenges to the CTA continue. You can read the decision here: Texas Top Cop Shop, Inc. v. Garland, E.D. Tex., No. 4:24-cv-00478, 12/3/24.
If you have any questions, please reach out to Kate Polozie, Esq. at (585) 987-2910 or kpolozie@woodsoviatt.com, Danielle Ridgely, Esq. at (585) 987-2914 or dridgely@woodsoviatt.com, or another member of the Business and Tax Department at Woods Oviatt Gilman LLP.
