Small Business Owners Can't Report Details on Owners and Others Who Benefit From the Business

Small Business Owners Can't Report Details on Owners and Others Who Benefit From the Business

Fox News

U.S. District Judge Liles C. Burke decided late Friday that the Corporate Transparency Act is unconstitutional on the grounds that Congress exceeded its powers in enacting the law. The National Small Business Association filed suit in November 2022 to block the requirement that tens of millions of small businesses register with the government as part of an effort to prevent the criminal abuse of anonymous shell companies.

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