Republican Officials Weigh In Against Corporate Transparency Law

Republican attorneys general from 22 states urged a US appeals court to not resurrect an anti-money laundering statute they say exceeds Congress’ constitutional authority to regulate interstate commerce.

The AGs filed their amicus brief in support of National Small Business United, an association that convinced an Alabama federal court to invalidate the Corporate Transparency Act. The law would require businesses report their “beneficial ownership” to the Treasury Department, and was designed to curb tax evasion and money laundering done via anonymous shell companies.

“The district court got it right when it recognized that the CTA takes an unprecedented swipe at ...