On December 3, 2024, a Texas Federal District Court issued a nationwide injunction preventing the Government from enforcing the Corporate Transparency Act (“CTA”). The Court found that the CTA and its Reporting Rule pose substantial, imminent, and irreparable harm, effectively pausing compliance obligations until a final judgment is rendered.
This injunction temporarily relieves businesses from complying with the CTA’s BOI reporting requirements. However, this is not the end of the story. Further legal developments are expected, and businesses should remain prepared for potential changes.
We urge our clients to stay informed and review their compliance strategies to be ready for future obligations under the CTA once the legal situation is resolved.
