The Supreme Court of the United States stayed a nationwide injunction on January 23, 2025 in McHenry v. Texas Top Cop Shop, Inc. that would allow enforcement of the Beneficial Ownership Information ("BOI") reporting requirements under the Corporate Transparency Act. However, FinCEN acknowledged on January 24, 2025 that the nationwide injunction from a different Eastern District of Texas case, Smith v. U.S. Department of the Treasury, remains in effect. As a result of the Smith case, BOI reports are still not required to be filed. Oral arguments in the Texas Top Cop Shop case are currently scheduled for March 25, 2025 before the United States Fifth Circuit Court of Appeal. Oral arguments have not been scheduled for the Smith case. We will provide further updates about the status of the BOI reporting deadline as they become available.
For further questions regarding the update, contact Liskow attorneys Leon Rittenberg III, Julie Chauvin, Marilyn Maloney, Caroline Lafourcade or Kevin Naccari, Jr. and visit our Tax Practice page.
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