Corporate Transparency Act Survives Early Enforcement Challenge

Oregon business owners lost their preliminary bid to escape enforcement of the Corporate Transparency Act, a law that requires US business entities to report stakeholder information to the US Treasury Department.

Judge Michael H. Simon of the US District Court for the District of Oregon ruled Sept. 20 that the businesses weren’t likely to succeed on the merits of their lawsuit that alleges the CTA violates privacy rights and exceeds Congress’s powers to regulate interstate commerce. Simon’s order cuts against that of an Alabama federal court, which deemed the law unconstitutional and blocked its enforcement against a separate business group. ...