Corporate Transparency Act (CTA)

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On March 2, 2025, the Department of Justice (DOJ) announced that it would suspend enforcement of the CTA. First enacted in 2021, the CTA imposed reporting requirements on almost all U.S. corporations, limited liability companies, and other business entities. Those reporting requirements sought “beneficial ownership information” from such companies, with substantial penalties for non-compliance. Enforcement of the CTA has already been delayed several times as a result of court orders. The House bill to repeal the CTA continues to gather co-sponsors.

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