Texas Court Blocks BOI Reporting on Nationwide Basis
Judge Amos Mazzant III of the Eastern District Court of Texas issues an injunction
Judge Amos L. Mazzant II of the US District Court for the Eastern District of Texas issued an injunction yesterday to block the implementation of the Beneficial Ownership Information (BOI) under the Corporate Transparency Act (CTA) on a nationwide basis.
The lawsuit was brought by the Texas Top Cop Shop, Inc. among other co-plaintiffs.
The CTA would require about 32 million small businesses to file a report in 2024. As of yesterday, when I filed a few of my own there had been about 9 million already filed which means at least 23 million were still unfiled with less than a month to go.
This will get appealed by the federal government to the fifth district which is one of the more conservative districts in the US and will likely rule in favor of the Judge. However, we already have a case being appealed in the 11th Circuit which may go in favor of the government.
Either way, this will go to the Supreme Court sometime next year. But in the meantime, it appears you do not have to file your BOI report for a while.
We will keep you posted.