Federal District Court Judge: The Corporate Transparency Act is Unconstitutional
The Corporate Transparency Act has been declared unconstitutional. On March 1, 2024, U.S. District Court Judge Liles C. Burke issued a 53-page opinion in favor of those contesting the Act. For the time being, associations may want to hold off on filing the form previously published on the federal government’s FinCEN website. Note, however, that an appeal is expected.
See National Small Business United, et al. v. Janet Yellen (“The Corporate Transparency Act is unconstitutional because it cannot be justified as an exercise of Congress’ enumerated powers.”)
Wall Street Journal Article: “Judge Strikes Down Law Requiring Corporate-Ownership Disclosure.”
To review RPG’s summary of the Corporate Transparency Act in PDF format, please click: The Corporate Transparency Act
