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Important Legal Update

The Corporate Transparency Act

On March 1, 2024, a U.S. District Judge in Alabama ruled that the Corporate Transparency Act (CTA) is unconstitutional. The Constitution limits Congress’s authority, and the Court held that the CTA exceeded those limits. Accordingly, the Court ruled that the U.S. Treasury Department and FinCEN shall not enforce the CTA against the plaintiffs in that case. It is currently unclear as to the implications of this ruling against persons not party to that case or outside of Alabama. We expect the government to appeal the judgement. For the time being, the Court’s decision leaves the CTA in limbo as there will almost certainly be further developments. We encourage you to consult Wood + Lamping LLP’s Corporate Transparency Act attorneys with any questions. You can also read more in our recent legal update.

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News & Insights

Becoming a parent is a wonderful adventure, and new parents have their hands full with learning how to parent. As emotional and stressful as it is to think about who will take care of their children in the event of their untimely deaths, parents should have a plan in place. In this episode of Simply Money, Mark Reckman outlines basic things that parents should know and should think about when going about the process of nominating a guardian for their children.