The Corporate Transparency Act (“CTA”) requires certain non-exempt companies to report the identity of their beneficial owners and applicants for incorporation. The initial reporting deadline was January 1, 2025, but a district court in Texas entered a nation-wide preliminary injunction against enforcement of the CTA stating the law was unconstitutional. The government took an appeal, and the Court of Appeals entered a “temporary” stay or stop of the enforcement of the injunction. As a result, companies required to file their CTA report must now do so until further notice.
Since the court order granting the temporary stay of the injunction against enforcement of the CTA was issued on December 23, 2024, reporting companies have been granted an extension to January 13, 2025, to comply with the reporting requirements.
Be on the lookout for updates.
January 6, 2025 Posted by Mirella Chavez Firm News
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