ALABAMA FEDERAL DISTRICT COURT RULES CTA UNCONSTITUTIONAL AS APPLIED TO PLAINTIFFS IN THAT CASE ONLY.

Beneficial Ownership Reporting Under the Corporate Transparency Act Continues to be a Requirement for Vast Majority of Beneficial Interest Owners and Applicants.

On March 1, 2024 the United States District Court for the Northern District of Alabama held that the Corporate Transparency Act (“CTA”) is unconstitutional and permanently enjoined the Treasury Department from enforcing the CTA against the plaintiff in the case  – Isaac Winkles, reporting companies for which Isaac Winkles is the beneficial owner or applicant, the National Small Business Association, and its members (as of March 1, 2024).  The ruling has no application to any other person subject to the CTA.

For information regarding the New Corporate Transparency Act Filing Requirements see https://dtclawyers.com/resources/corporate-transparency-act/