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Corporate Transparency Act Ruling from the U.S. Supreme Court

Client Alert
January 24, 2025

Over the past several weeks, the federal judiciary has provided numerous rulings on the enforceability of the Corporate Transparency Act (“CTA”), which took effect on January 1, 2024. For a more detailed overview on the CTA, click here.

Most recently, on December 26, 2024, the United States Court of Appeals for the Fifth Circuit reinstated a previous injunction barring enforcement of the CTA’s filing requirement for entities throughout the country.

Yesterday, the U.S. Supreme Court granted the government’s appeal of the Fifth Circuit’s December 26 decision, lifting the nationwide injunction. While many interpreted this ruling to reinstate the CTA’s reporting requirement, recent guidance from the Financial Crimes Enforcement Network (“FinCen”) makes clear that enforcement of the CTA’s filing requirement is still barred nationwide.

While the U.S. Supreme Court lifted the injunction on appeal before the Fifth Circuit, a separate nationwide injunction issued by a different federal judge on January 7, 2025 (Smith v. U.S. Department of the Treasury, Case No. 6:24-cv-336-JDK) remains in effect. FinCen continues to accept voluntary reporting, but as of this publication, businesses are not required to comply with the CTA’s filing requirements.

For guidance on complying with these updated requirements, business owners should reach out to their BMD legal advisors or contact BMD Member Blake Gerney at brgerney@bmdllc.com.

Corporate Transparency ActBusiness & Corporate LawBlake R. GerneyMichael SneeringerNathan AltstadtJacob R. Davis
Client Alert

Corporate Transparency Act Overhauled: U.S. Entities No Longer Required to Report

March 24, 2025The Department of Treasury has issued an interim final rule significantly altering the Corporate Transparency Act (CTA). As of March 21, 2025, all U.S.-created entities and their beneficial owners are exempt from reporting requirements. Only non-U.S. entities registered to do business in the U.S. must still report, but they are not required to disclose U.S. citizen owners. Business owners should stay informed on these changes and consult legal counsel for compliance guidance.Client Alert

ODM to Implement Medicaid Work Requirements: What Providers and Medicaid Expansion Recipients Need to Know

March 21, 2025The Ohio Department of Medicaid (ODM) has submitted a waiver to impose work requirements for Medicaid expansion recipients. If approved, the new eligibility criteria will take effect on January 1, 2026. A federal public comment period is open until April 7, 2025.Client Alert

Ohio Appellate Court Rules in Favor of Gender-Affirming Care

March 19, 2025On March 18, 2025, the 10th District Court of Appeals in Franklin County ruled that Ohio’s House Bill (HB) 68, which restricts puberty blockers and hormone therapy for minors seeking gender-affirming care, violates the Health Care Freedom Amendment and is therefore unenforceable. The court found that the law unlawfully interferes with parental rights and medical decision-making. The case, Moe v. Yost, has been remanded, and Ohio Attorney General Dave Yost intends to appeal.Client Alert

HHS Revokes Public Comment Requirement on Certain Policy Changes

March 5, 2025The U.S. Department of Health and Human Services (HHS) has revoked the Richardson Waiver, eliminating the requirement for public notice and comment on certain policy changes. This decision allows HHS to implement new policies more quickly, potentially affecting healthcare funding rules like Medicaid work requirements. While it speeds up policymaking, it also reduces opportunities for stakeholder input, raising concerns over transparency and unintended consequences for healthcare providers, states, and patients.Client Alert

Don't Get Caught Dazed and Confused: Another Florida Court Weighs in on Employer Obligations to Accommodate Medical Marijuana Use

March 3, 2025A Florida trial court ruled in Giambrone v. Hillsborough County that employers may need to accommodate off-duty medical marijuana use under the Florida Civil Rights Act (FCRA). This contrasts with prior rulings and raises new compliance challenges for employers. With the case on appeal, now is the time to review workplace drug policies.
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