It is important to remain vigilant about compliance with the Corporate Transparency Act and getting an entity’s BOIR report filed in a timely manner.
The Corporate Transparency Act
A major change in federal law will impact tens of millions of existing and new entities started on January 1, 2024. This new law is called the Corporate Transparency Act (or “CTA”) and will implement a broad regime of disclosure and transparency designed to reveal entity owners and non-owners who have a certain degree of decision-making authority over the entity.
Publications
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The CTA, BOIR Filings and Third Parties
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Miller Johnson files lawsuit challenging the constitutionality of the federal Corporate Transparency Act (CTA)
On March 26, 2024, Miller Johnson filed a lawsuit challenging the constitutionality of the federal Corporate Transparency Act (CTA). Miller Johnson represents the Small Business Association of Michigan, the Chaldean Chamber of Commerce, Steward Media Group, LLC, Power Connections Co, LLC, Derek Dickow, Semper Real Estate Advisors, LLC, and Timothy Eisenbraun.
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Federal District Court Holds Corporate Transparency Act Unconstitutional As Applied Against the NSBA
The Corporate Transparency Act, enacted on January 1, 2021 and effective January 1, 2024, directs the U.S. Department of the Treasury’s Financial Crimes Enforcement Network to establish a nationwide database of beneficial ownership of certain corporations and other legal entities.
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The Corporate Transparency Act is Now Live: Are You Prepared?
As we announced at the end of 2023, the Corporate Transparency Act (CTA) went into effect January 1, 2024. The seminal purpose of the CTA is to give the U.S. Financial Crimes Enforcement Network an additional tool to prevent money laundering, financial crimes, and related illegal activity in the U.S.’s financial system that are conducted through the veil of one or more entities.
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New Year to Bring Dramatic New Beneficial Ownership Reporting Obligations for Millions of Companies
A major change in federal law will impact tens of millions of existing and new entities starting on January 1, 2024. This new law is called the Corporate Transparency Act (or “CTA”) and will implement a broad regime of disclosure and transparency designed to reveal entity owners and non-owners who have a certain degree of decision-making authority over the entity.
Team Members
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Erik R. Daly
Business/Corporate
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Raj A. Malviya
Private Client
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R. Ryan McNally
Real Estate
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Matthew M. O'Rourke
Employment
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Chelsea Austin
Business/Corporate
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John T. Brown
Business/Corporate
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Neil J. Marchand
Litigation
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Hilary Moir
Private Client
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Marcus C. Hoekstra
Business/Corporate
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David (Wei) Wang
Business/Corporate
Questions about the CTA?
If you have questions about the CTA or wonder if your organization is impacted by this new legislation, contact Erik Daly (dalye@millerjohnson.com) or Raj Malviya (malviyar@millerjohnson.com).