Corporate Transparency Act 2024 Update. The corporate transparency act (the cta), enacted in 2021 and effective on january 1, 2024, is designed to combat the use of shell companies for illicit activities such as. Small business owners are required to file corporate transparency reports with beneficial.

As the corporate transparency act (cta) took effect on january 1, 2024, it introduced significant reporting obligations for a wide array of. Last week, challengers of the corporate transparency act’s beneficial ownership information reporting requirements argued their position in the first case to reach a federal.