CTA BACK AGAIN (Well, Sort of… ) Corporate Transparency Act Update: Supreme Court Allows Reporting to Move Forward
On January 23, 2025, the U.S. Supreme Court made headlines by granting the government’s motion to stay a nationwide injunction that had temporarily halted enforcement of the Corporate Transparency Act (CTA). However, another injunction, issued in Smith v. U.S. Department of the Treasury, remains in effect. This means businesses are currently not required to file Beneficial Ownership Information (BOI) reports, though voluntary filing is still an option.
To read more about the Supreme Court decision and its implications, check out this well written Forbes article by Jay Adkisson.
What Does This Mean for Businesses?