Despite Court Rulings, Most Businesses Must Comply with the CTA

Expert Insights has a podcast series on helping business leaders understand how to comply with the Corporate Transparency Act (CTA) and its Beneficial Ownership Information reporting requirements.

In March, a federal judge in Alabama declared the CTA unconstitutional. So does this mean that non-exempt businesses are no longer required to comply? Absolutely not. CT Corporation Associate Director of Government Relations Mike Powell joins us to explain the court ruling and why it actually impacts very few businesses.

Powell also addresses concerns that the reporting requirements are overwhelming for some business owners and whether the government will be aggressively penalizing businesses that do not comply correctly.

For more information and resources: https://www.wolterskluwer.com/en/solutions/ct-corporation/resources/corporate-transparency-act-resources