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JUDICIAL UPDATE: Beneficial Ownership Information Reporting Corporate Transparency Act

Summary

On March 1, 2024 and Alabama federal court found the Corporate Transparency Act (31 USC
5336(b)) (“CTA") unconstitutional. The news created loads of discussion and confusion in the business
community and their supporting services. Business owners wonder if they were off the hook with
compliance. Service providers were concerned that their investment of compliance offerings and technology
was for naught.

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