Corporate Transparency Act Under Fire

You have no doubt read a lot about the new Corporate Transparency Act, which took effect this year for new companies (and which takes effect next year for existing companies). In early March, an Alabama federal district judge ruled the new law unconstitutional. While the federal government has appealed the court’s ruling, and the ruling does not apply to those not party to the litigation, it has created considerable uncertainty as to the way forward. Other legal developments are sure to follow, so keep an eye on this space for further updates.