Category: Client Alerts
Florida to Eliminate Sales Tax on Commercial Leases — What Property Owners and Tenants Need to Know
On June 30, 2025, Florida passed House Bill 7031, which will repeal the state’s sales tax on commercial real property leases, effective October 1, 2025. This legislative change is expected to provide immediate financial relief for businesses leasing commercial space and marks the end of Florida’s unique position as the […]
U.S. Department of the Treasury Suspends Enforcement of Corporate Transparency Act Against U.S. Citizens and Domestic Reporting Companies
On February 27, 2025, the Financial Crimes Enforcement Network (“FinCEN”) of the U.S. Department of the Treasury (the “Treasury Department”) issued a notice announcing that it would not issue any fines or penalties or take any other enforcement actions against any companies based on any failure to file or update […]
Beneficial Ownership Information Reporting Requirements of Corporate Transparency Act Reinstated and Halted Again – For Now
In dizzying back-to-back actions during the Christmas holidays, the U.S. Court of Appeals for the Fifth Circuit (the “Fifth Circuit”) first stayed and then reinstated the nationwide preliminary injunction temporarily blocking enforcement of beneficial information reporting requirements of the Corporate Transparency Act (“CTA”). Following these actions, no filings under the […]
Beneficial Ownership Information Reporting Requirements Back in Effect, with Deadline Extensions
Just before Christmas, on December 23, 2024, the U.S. Court of Appeals for the Fifth Circuit granted a stay of the nationwide preliminary injunction blocking enforcement of the Corporate Transparency Act (“CTA”). The Fifth Circuit’s decision effectively reinstated all CTA filing deadlines for millions of companies created or registered in […]
Update on Federal Law on Corporate Transparency
On December 3, 2024, the U.S. District Court for the Eastern District of Texas, Sherman Division, in Texas Top Cop Shop, Inc., et al. v. Garland, et al., Case No. 4:24-cv-00478-ALM, concluded that the Corporate Transparency Act (the “CTA”) is likely unconstitutional and barred enforcement of the CTA nationwide. The […]
