March 18th, 2024

Critical Update on the Corporate Transparency Act – What Every Business Owner Needs to Know

In our continuous effort to keep you informed on legal matters that directly impact your business, Wilkinson Law has been closely monitoring and reporting on the developments surrounding the Corporate Transparency Act (CTA). The narratives around the CTA have taken two dramatic turns.

On March 1, 2024, the CTA was declared unconstitutional by a lower federal court. Should this recent development be interpreted as a green light to avoid compliance with the transparency and reporting requirements? Learn more in our newest article.

On the same date, New York Governor Kathy Hochul signed the state’s version of the CTA, the NY-LLCTA, with specific amendments to address privacy concerns. Find out how this new law might apply to your business in our important article.

Our commitment to providing business owners with the necessary documents and advice to fund, grow, protect, and sell their businesses is unwavering. Initially, we introduced the CTA in one of our articles, outlining its intended purpose and implications for businesses nationwide. Subsequently, we reported on New York's initiative to enact its version of the CTA, a move that signaled significant alignment with federal efforts to enhance corporate transparency and combat financial crimes.

We understand the importance of staying ahead in a rapidly changing legal environment. That's why we encourage you to read our detailed analyses of the recent constitutional ruling on the CTA and the enactment of the NY-LLCTA. We want you to know what these developments mean for your business. Staying informed and proactive is key to ensuring your business remains compliant, protected, and poised for growth amidst legal uncertainties.

At Wilkinson Law, we give business owners the documents and advice they desperately need to fund, grow, protect and sell their businesses. We are trustworthy business advisors keeping your business on TRACK: Trustworthy. Reliable. Available. Caring. Knowledgeable.®

Categories: Important Legal News