NFIB State Director Hunter Loggins applauds this week’s decision granting a temporary injunction blocking the U.S. Department of Treasury from enforcing the Corporate Transparency Act’s oppressive beneficial ownership information reporting requirements.

“This is a big victory for Georgia’s small businesses,” Loggins said. “In granting this preliminary injunction, the U.S. District Court for the Eastern District of Texas raised concerns about the Corporate transparency Act’s constitutionality and impact on small businesses. It would have imposed a heavy reporting burden on small business owners, with severe penalties for noncompliance.

“Our efforts to permanently overturn the act are ongoing, but by ruling before the Dec. 31 deadline, the judge has at least temporarily relieved businesses of the filing requirement,” Loggins said.

Click here to learn more about NFIB’s efforts to overturn this onerous mandate.