https://deepnewz.com/law/supreme-court-reinstates-corporate-transparency-act-32-6-million-businesses-on-efcfa7b1

The U.S. Supreme Court has provisionally reinstated the Corporate Transparency Act (CTA), allowing the government to enforce the law while legal challenges continue. The CTA, an anti-money laundering law enacted in 2021, requires owners of approximately 32.6 million small businesses to register personal information, including photo IDs and home addresses, with the Treasury Department's Financial Crimes Enforcement Network (FinCEN). The Supreme Court's decision to stay a nationwide injunction issued by a Texas federal district court in the Texas Top Cop Shop litigation enables the enforcement of the CTA. However, a separate nationwide injunction from the Smith v. Treasury litigation remains in effect, keeping the enforcement of the CTA on hold. FinCEN has stated that reporting companies are not currently required to file beneficial ownership information and are not subject to liability for non-compliance while the Smith order is in force, though they may voluntarily submit reports. The legal battle over the CTA's constitutionality will continue in the U.S. Court of Appeals for the Fifth Circuit, with oral arguments scheduled for March 2025. Justice Jackson dissented from the Supreme Court's decision.