On Jan. 1, 2024, the Corporate Transparency Act (CTA) took effect. Originally enacted to combat financial crimes such as money laundering, terrorist financing, and tax evasion, the CTA requires

The implementation of the Corporate Transparency Act, which requires millions of companies to disclose their true ownership to the government, is back on after a federal judge in Texas reversed an injunction he issued last month.

Part two of Anthony Sabino’s two-part series analyzing Texas Top Cop Shop, Inc. v. Garland holding the Corporate Transparency Act unconstitutional and prohibiting its enforcement nationwide.

As has now been well reported, in 2021 Congress enacted the Corporate Transparency Act (the “CTA”), which empowers the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) to collect information about “Beneficial Owners” of certain privately held entities for the purpose of deterring illicit activities through the operation of shell corporations and LLCs.