The Corporate Transparency Act (“CTA”) mandates that most legal entities (e.g., corporations, limited partnerships, LLCs) formed prior to 2024 file a Beneficial Ownership Information (“BOI”) report with the Financial Crimes Enforcement Network by the end of 2024. However, several cases are underway challenging the constitutionality of the CTA, including Texas Top Cop Shop v. Garland, in which the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction halting the enforcement of the CTA on December 3, 2024.
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