Oregon Business Owners Appeal Corporate Transparency Challenge

A group of Oregon business owners appealed a federal district court’s decision not to let them escape enforcement of the Corporate Transparency Act, which requires US business entities to report stakeholder information to the Treasury Department.

The US District Court for the District of Oregon denied the entrepreneurs’ request for a preliminary injunction against the CTA, which they called an unconstitutional overreach by Congress into the states’ authority over entity formation. Judge Michael H. Simon said the plaintiffs weren’t likely to succeed on the merits because the CTA’s purpose—to deter money laundering, terrorism financing, and illicit economic activity—are within Congress’ ...