On March 1, 2024, a U.S. District Court in Alabama held[1] that the Corporate Transparency Act (CTA) is unconstitutional as a matter of law. In its ruling, the District Court explained that the CTA and its requirements exceed any authority granted to Congress. What does this mean going forward? As of right now, nothing has […]
The Corporate Transparency Act (CTA), a product of anti-money laundering efforts at the federal level, has been touted as a pivotal moment in clarity and accountability for businesses, particularly small businesses throughout the country. In part one, we discussed that more than 32 million businesses will now have to report personal information about individuals and […]
Part 1: Understanding the Basics The Corporate Transparency Act is a landmark federal law that will significantly impact businesses and individuals by putting the onus on businesses to become more transparent about their ownership structures. The Act aims to enable law enforcement agencies to detect and prevent financial crimes more effectively. Throughout this four-part series, […]
Effective January 1, 2023, business entity law changes are coming for limited liability companies (LLCs) in Wisconsin. Governor Tony Evers recently signed 2021 Act 258, which adopts a more standard set of LLC laws similar to those LLC laws already used by 23 other states. Act 258 is a step towards the modernization of Wisconsin’s […]