Showing posts with label CTA. Show all posts
Showing posts with label CTA. Show all posts

Saturday, August 10, 2024

"federal district judge in Alabama ruled that the Corporate Transparency Act (CTA) is unconstitutional"


On March 1, 2024, a federal district judge in Alabama ruled that the Corporate Transparency Act (CTA) is unconstitutional. The judge concluded that the CTA exceeds Congress' legislative powers and lacks a sufficient connection to any enumerated power to achieve Congress' policy goals. The CTA requires companies that do business in the United States to report information about the individuals who ultimately own or control them. The act was intended to help law enforcement detect, prevent, and punish misconduct, such as money laundering and terrorism, through business entities.