Credit: Egor/Adobe Stock Hitting 'Pause' on the Corporate Transparency Act: Part I
In this first article of his two-part series, Anthony Sabino discusses 'National Small Business United v. Yellen,' which held the Corporate Transparency Act to be unconstitutional on multiple grounds. This installment summarizes the regulatory scheme and analyzes the district court's holdings.
May 31, 2024 at 10:00 AM
8 minute read
The Corporate Transparency Act (the CTA) requires business entities newly created pursuant to state law to fully and publicly identify their beneficial owners. This recent federal enactment (and the even more recent Department of Treasury regulations promulgated thereunder) is intended to thwart criminals, terrorists, and other evildoers who might cloak their nefarious schemes behind the mundane facades of seemingly legitimate corporations, limited partnerships, and LLCs.
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