On December 3, 2024, the United States District Court for the Eastern District of Texas issued a nationwide preliminary injunction, which temporarily blocks the enforcement of the Corporate Transparency Act. Two days later, the Department of Justice, representing the Department of Treasury, filed a notice of appeal to the United States Court of Appeals for the Fifth Circuit. KingSpry Business … [Read more...] about Federal Court Halts Enforcement of Corporate Transparency Act—For Now
Corporate Transparency Act
The New Corporate Transparency Act Impacts Businesses Across the United States
Effective January 1, 2024, as part of the National Defense Authorization Act, the Corporate Transparency Act requires domestic and foreign reporting companies to report beneficial ownership information to the Financial Crimes Enforcement Network (“FinCEN”). KingSpry’s Taisha Tolliver-Duran, Esq. has kept abreast of the changes in legislation, and details what businesses must know about the new … [Read more...] about The New Corporate Transparency Act Impacts Businesses Across the United States
What the Corporate Transparency Act Means for Business Entities
A new federal law aimed at combatting money laundering and other criminal activity will impose beneficial ownership reporting obligations on business entities and is expected to become effective soon, possibly in early 2023. Business entities should be aware of the information that they will be required to report and the deadlines for reporting, after the effective date is designated. The … [Read more...] about What the Corporate Transparency Act Means for Business Entities
