A federal court in East Texas issued a preliminary injunction that temporarily halts enforcement of the Corporate Transparency Act nationwide. LLC owners are not required to file CTA disclosures right now while the court hears further arguments on the act's constitutionality.
If you've got an LLC, you've probably been following in the ongoing saga about the Corporate Transparency Act and the court cases that have been going on involving it. There was a significant development that happened last week coming out of a federal court in East Texas. That court issued a preliminary injunction, which has now halted the nationwide enforcement of the act. Understand, this is not a final ruling on whether the act is constitutional. In essence, the judge has said, I think this act could be unconstitutional, therefore I'm going to shut it down temporarily until the lawyers can come to me with more specific arguments. The hearings where those lawyers will make those arguments will come in the next few months, but for now, the act has been suspended along with enforcement of the penalties. So as of right now, no one has to file any disclosure until the court makes its final ruling. If you want to learn more about things like this, check out the community I just started called Legacy. The link to do that is on my bio page and in the comments here.
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