Corporate Transparency Reporting Rules

March 2024 Update:

A recent Alabama court ruling says that the Corporate Transparency Act (CTA) is unconstitutional, which could have an impact on beneficial ownership reporting.

According to a recent Thomson Reuters article, the ruling’s impact is currently unknown. However, the U.S. government is expected to appeal it, and the Treasury Department is complying with the court’s injunction in the meantime.

GSG will keep you apprised of any updates on this case. In the meantime, you can read the full Thomson Reuters here.