In my December 24th post to this blog, I had written that the 5th Circuit Court of Appeals had stayed the trial court’s injunction prohibiting enforcement of the Corporate Transparency Act (and of particular interest to us, the reporting requirement for your Beneficial Ownership). In other words, on December 5th, the trial court ruled that no reporting was required. On December 23rd, the appeals court ruled that filing was required.
Now on December 26th, the appeals court reversed itself, reinstating the trial court’s injunction against enforcing the CTA’s reporting requirements. Confused? Whiplashed – I am.
For the moment, non-exempt entities can ignore the reporting requirements of the CTA. The Fifth Circuit Court of Appeals may issue a new ruling as early as March 2025. Until then, if you have not yet reported your Beneficial Ownership Information, you can continue to hold off.
Also do not forget, for our friends in the following Florida counties, the reporting deadline has been extended to July 1, 2025 to accommodate businesses affected by the 2024 hurricanes – Brevard, Charlotte, Citrus, Collier, DeSoto, Duval, Flagler, Glades, Hardee, Hendry, Hernando, Highlands, Hillsborough, Indian River, Lake, Lee, Manatee, Marion, Okeechobee, Orange, Osceola, Palm Beach, Pasco, Pinellas, Polk, Putnam, Sarasota, Seminole, St. Johns, St. Lucis, Sumter and Volusia.