March 4, 2024
On Friday, March 1, 2024, an Alabama federal district court issued its decision in National Small Business United v. Yellen, holding that the Corporate Transparency Act (the “CTA”) is unconstitutional. The plaintiffs argued that, in enacting the CTA, Congress exceeded the enumerated powers granted to it under the U.S. Constitution. The federal government argued that […]
February 28, 2024
In a recent SKO Insider, we provided a quick introduction to the now-effective Corporate Transparency Act (“CTA”) and promised more information about this new law. Before going into the CTA’s requirements, we have fielded many questions that come down to “Why the CTA?” So let’s get that out of the way. In recent years the […]
February 13, 2024
The Corporate Transparency Act (“CTA”), a new federal filing requirement for many business entities, became effective on January 1, 2024. The CTA creates a new federal database named BOSS into which companies, including companies already existing, will be required to submit a great deal of identifying information as to themselves and their “beneficial owners.” The […]