William Chatt and Robert Prince discuss the recent update to the Corporate Transparency Act.
We finally have good news regarding the Corporate Transparency Act. Originally, we advised clients to hold off on complying with the CTA in hopes that an exemption would be given by Congress or that a court would invalidate the CTA, at least as it applied to community associations.
Fortunately, a federal judge in Texas has entered a nationwide preliminary injunction against enforcement of the CTA. This means that community associations and businesses, alike, will not have to comply with the CTA at this time.
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