Supreme Court Lifts Corporate Transparency Act Injunction

Last week, the U.S. Supreme Court’s decided to lift an injunction temporarily halting enforcement of the Corporate Transparency Act’s reporting requirements.

On Thursday, the Court overturned a lower court order blocking enforcement of the CTA.  However, a separate national injunction issued earlier this month by a federal judge in Texas remains in place and continues to block the law’s implementation.  The Treasury’s Financial Crimes Enforcement Network, which is overseeing the law’s implementation, issued an alert Friday confirming compliance with the CTA isn’t mandatory while the injunction remains in force.

National Cattlemen’s Beef Association Executive Director of Government Affairs Kent Bacus said of last week’s decisions:

 “Cattle producers across the country are disappointed in the Supreme Court ruling, which will allow the federal government to blanket family-owned farms and ranches in fresh red tape while subjecting millions of law-abiding small business owners to potential legal jeopardy,

“We urge President Trump and his administration to rescue millions of American small business owners from these burdensome reporting requirements and delay enforcement until a meaningful solution is found,” Bacus added.

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