On March 1, 2024, a federal district court in the Northern District of Alabama entered a final declaratory judgment, and ruled that the Corporate Transparency Act (CTA) exceeds the limits on Congress’s power provided under Article I of the Constitution. Further, the court enjoined the Department of the Treasury and FinCEN from enforcing the Corporate Transparency Act against the plaintiffs. The plaintiffs are Isaac Winkles, reporting companies for which Isaac Winkles is the beneficial owner or applicant, the National Small Business Association, and members of the National Small Business Association (as of March 1, 2024).

This ruling doesn't apply to any person or entity other than those plaintiffs.

Regardless of your view on the CTA, this isn't the end. There will be an appeal to the 11th Circuit Court of Appeals, and then an appeal by the losing party there to the Supreme Court.