The Corporate Transparency Act dominated our days in November as clients dissolved unused entities, updated current entities and considered changes to their corporate structure. Making sure each entity’s records conformed with the records of the Arizona Corporation Commission and Secretary of State’s office turned out to be a larger project than most anticipated. In the end, a Texas court placed a nationwide injunction on enforcement of the Act. For more on that lawsuit see CTA Injunction Update. For those businesses that have not complied, it gives us additional time to gather the information and clean up entities, making it easier to comply if and when the injunction is lifted. For those businesses that have already complied, forget about it until there is a change to the entity’s ownership or address.
