The other day, the U.S. District Court for the Eastern District of Texas entered a nationwide injunction related to the CTA. It said, “[t]he Court has determined that the CTA and Reporting Rule are likely unconstitutional for purposes of a preliminary injunction. It has not made an affirmative finding that the CTA and Reporting Rule are contrary to law or that they amount to a violation of the Constitution.”
What does that mean for small business owners, and what is the requirement to file their BOI by the end of the year? It means you need not do it. The Court’s injunction means that until something happens in the case (Texas Top Cop Shop, Inc. et al. vs. Garland), business owners don’t need to file their BOI (if you already filed it, that’s fine).
I will update you on any news about the Corporate Transparency Act and the BOI filing.