Adding yet another chapter to the Corporate Transparency Act (CTA) saga, the US Court of Appeals for the Fifth Circuit on December 26 issued an order vacating its stay of the Texas federal district court’s preliminary nationwide injunction barring the US government’s enforcement of the CTA. As a result, the government is again prohibited from enforcing the CTA and its beneficial ownership information reporting rule.
In this most recent order, the Fifth Circuit cited a desire “to preserve the constitutional status quo while the merits panel considers the parties’ weighty substantive arguments.”
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