Uncertainty for Farmers, Small Business Owners Over the Future of the Corporate Transparency Act

Posted under: SMB
Date: 2024-12-23
Uncertainty Over Corporate Transparency Act for Farmers and Small Business Owners Justo Global

A few weeks ago, the U.S. District Court for the Eastern District of Texas granted a nationwide preliminary injunction in Texas Top Cop Shop, Inc. v. Garland. The court said that the Corporate Transparency Act was likely unconstitutional, so it temporarily stopped the government from enforcing it. The report would require many farmers and small business owners to give confidential information to the U.S. Treasury Department’s Financial Crimes Enforcement Network—or FinCEN.

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