CTA- BOI has not gone away. We all need to still Take Action to Repeal this Law, alongside 35 of our
congressmen. If you are in Bucks County, PA, Congressman Fitzpatrick has voted FOR the CTA.
Please call him and let him know how this intrusive data collection impacts your business.
There are still Repeal and Delay bills and lawsuits in play. NSBA heads back to court at the end of
September.
Did you know? The CTA (Corporate Transparency Act) was tucked away in literally thousands of
pages of the William M (Mac) Thornberry National Defense Act for Fiscal year 2021.
You’ll find the part that is the actual law that went into effect in January 2024 by clicking this link and
scrolling to page : CTA Public law PUBL283.PS and scrolling to page 1,218. The 21-page
report/law buried in thousands of pages of National Defense Act requires 32 million small businesses
in our country to fill out Beneficial Ownership Information (BOI) or be subject to fines up to $10,000
and 2 years in prison for each LLC, S-corp or C-Corp they own.
Amendment to Delay CTA 1 year: Senator Sherrod Brown (OH), Committtee Chairman on Banking,
is holding back legislation that could delay the CTA requirements on small businesses for 1 year.
That’s important to get it passed because it would give our Congress time to pass the Big Brother
Overreach Bill which would repeal the current law that went into effect January 1, 2024. Find your PA
Senator here or other states and urge them to speak to Senator Sherrod Brown.
- Letter from S Corporation Association in support of the delay to Senator Sherrod Brown and
Tim Scott: Here - List of Businesses that support a delay: Here
- Other lawsuits against CTA: Here
The Go Big Small Biz Network exists to prevent government overreach into small businesses. We are
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