"Federal Court Strikes Down Corporate Transparency Act Disclosure Provision"
TL;DR
A federal court ruling in Alabama has barred the Treasury Department from collecting personal details about small business owners as required by the Corporate Transparency Act, a law aimed at combating money laundering. The judge deemed the ownership reporting requirements as a case of congressional overreach, siding with the National Small Business Association in their lawsuit. The Justice Department is expected to appeal the ruling to the 11th Circuit Court of Appeals in Atlanta.
Topics:businesspolitics#corporate-transparency-act#judges-ruling#money-laundering#politics#small-businesses#treasury-department
- Judge Rules Against Corporate Transparency Act Disclosure Provision The New York Times
- U.S. Corporate Transparency Act: CTA is Declared Unconstitutional in U.S. District Court Case The National Law Review
- Federal Court Rules New Company Reporting Law Is Unconstitutional Forbes
- Treasury watchdog on a 'full court press' to spread awareness of new business registry rules CNBC
- Current Issues for Estate Planners: The CTA, Rising Interest Rates and More | The Legal Intelligencer Law.com
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