Monthly Archives: December 2024

Legal Alert: Corporate Transparency Act Obligations Resume with Extended Deadlines

On December 23, 2024, the U.S. Court of Appeals for the Fifth Circuit granted a stay of the nationwide preliminary injunction against the enforcement of the Corporate Transparency Act (“CTA”). The stay of the nationwide injunction means that reporting companies must file timely Beneficial Ownership Information Reports (“BOIR”). Previously, the U.S. District Court for the Eastern District of Texas found the CTA unconstitutional and issued a nationwide injunction against its enforcement. Texas Top Cop Shop v. Garland et al. (Case No. 4:24-cv-00478, December 3, 2024).

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Legal Alert: Corporate Transparency Act PUT ON HOLD!

This week, the U.S. District Court for the Eastern District of Texas issued a new opinion in Texas Top Cop Shop v. Garland et al. (Case No. 4:24-cv-00478, December 3, 2024), finding that the Corporate Transparency Act (CTA) “is not justified by the Commerce Clause nor the Necessary and Proper Clause” and concluded that the plaintiffs had established a substantial likelihood of success on the merits in their argument that the CTA is unconstitutional. On that basis, the court issued a national preliminary injunction against the enforcement of the CTA.

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