This morning, we advised you that yesterday the Supreme Court lifted the nationwide injunction against enforcement of the Corporate Transparency Act (CTA) issued in an action known as Texas Top Cop Shop, Inc. v. McHenry. However, earlier today, FinCEN issued a release that enforcement of the CTA is actually still on pause. It seems that a second Texas Court, in an action known as Smith v. U.S. Department of the Treasury, issued a separate injunction that was not lifted by the Supreme Court’s order.
Of course, we expect more to follow and the bouncing ball may once again shift. The Smith injunction is still subject to appeal and, if the Supreme Court lifted one, it is likely to lift a second.
Mark Silverstein