Ken DeMoura Interviewed by Mass Lawyers Weekly on Corporate Transparency Act

In a recent Massachusetts Lawyers Weekly article, DeMoura|Smith partner, Ken DeMoura, discussed the nationwide injunction on federal enforcement of the Corporate Transparency Act and its Beneficial Ownership Information reporting obligations on business owners. DeMoura analyzed the ruling in Texas Top Cop Shop, Inc. v. Garland and indicated that business owners would still be wise to gather the information required for their BOI reports, in the event that the Fifth Circuit Court of Appeals stays the injunction or ultimately rules that the Act is constitutional.  

After the publication of the article, a motion panel of the Fifth Circuit did stay the injunction, only to be reversed, three days later, by the panel assigned to hear full argument of the government’s appeal. As of now, the enforcement of the CTA remains enjoined and businesses are not required to file BOI reports with the US Treasury.

DeMoura frequently presents to business and trade groups as well as chambers of commerce on the CTA and its reporting obligations and he has published extensively on these topics.