New Federal Court Ruling: Injunction Against the Enforcement of BOI Reporting
A Texas Federal Court granted a nationwide preliminary injunction against the Corporate Transparency Act (CTA) scheduled to become effective on January 1, 2025. The court cited potential constitutional issues with the CTA’s Beneficial Ownership Reporting requirements and acknowledged there was sufficient injury to warrant this preliminary injunction.
This injunction brings welcome relief to many companies working through the process of determining their reporting requirements as well as gathering the necessary documentation for this new filing.