Tag Archive: Corporate Transparency Act

In a significant legal development, a Texas federal court issued a nationwide preliminary injunction on December 3, 2024, halting the enforcement of the Corporate Transparency Act (CTA). The ruling temporarily suspends the CTA’s reporting requirements, including the critical January 1, 2025, compliance deadline. The Department of Justice may appeal this decision to the 5th Circuit Court of Appeals, which could lead to further legal proceedings and potential changes in the status of the injunction. In this blog, we break down the reasons behind the court’s decision, what it means for the Corporate Transparency Act, and what steps businesses should take to stay prepared.

LEGAL UPDATE: CORPORATE TRANSPARENCY ACT: NATIONWIDE INJUNCTION STAYED, REPORTING REQUIRED BY JANUARY 13, 2025

by | December 24, 2024

UPDATE: New developments again on the Corporate Transparency Act (CTA). On December 26, the court reversed its previous decision, and filing is suspended pending further litigation. Read on the latest update here. On December 23, 2024, the Fifth Circuit Court of Appeals reinstated the Corporate Transparency Act (CTA), reversing an earlier nationwide injunction that had paused... View Article

Transparency Is Now Mandatory. Is your Business Ready?

by | January 24, 2024

At Equinox, we champion transparency as the ultimate best practice. In today's business landscape, the trend of "radical transparency" can either be a strategic advantage or a self-destructive move. In this post, we delve into the complexities of transparency, guiding you through legal, regulatory, compliance, and cost considerations.

Corporate Transparency Act – What every small business needs to know about the upcoming reporting requirements  

by | September 19, 2023

The Corporate Transparency Act (CTA) is a federal law enacted as part of the Anti-Money Laundering Act of 2020 meant to reduce financial crime in small businesses across the United States. Specifically, the CTA requires that smaller, otherwise unregulated, companies file a report with the US Department of Treasury’s Financial Crimes Enforcement Network within their new Beneficial Ownership Secure System (BOSS), which the network may share with other government agencies and financial institutions who request it. The Act will come into effect on January 1st, 2024, for newly formed companies and on January 1st, 2025, for already existing companies.