The last nationwide injunction against enforcement of the Corporate Transparency Act’s Beneficial Ownership Information (“BOI”) reporting requirements has been stayed by Judge Kernodle of the Eastern District of Texas.
U.S. House Bill Would Extend Deadline to File BOI Reports by One Year
The United States House of Representatives unanimously passed the Protect Small Businesses from Excessive Paperwork Act on February 10, 2025, which would grant a one-year extension to file Beneficial Ownership Information (“BOI”) Reports under the Corporate Transparency Act.
FinCEN Announces Appeal of Nationwide Injunction and Thirty Day Extension for Reporting if Successful
On February 6, 2025, the Financial Crimes Enforcement Network (“FinCEN”) published an alert announcing that it has filed a Notice of Appeal in Smith v. U.S. Department of the Treasury, which enjoined the enforcement of Beneficial Ownership Information (“BOI”) Reporting requirements nationwide.
SCOTUS Digs into Jurisdiction in Pet Food Case
Although pet food and jurisdictional quandaries might seem equally unpalatable, the United States Supreme Court recently tackled a case that touched on both topics. Royal Canin U. S. A., Inc. v. Wullschleger, 604 U.S. ___, 2025 WL 96212, at *6 (U.S. Jan. 15, 2025). It all started with pet food marketing.
Liskow Attorneys Secure Fifth Circuit Victory for Charitable Foundations in Trust Dispute
On January 23, 2025, Philip Kirk Jones and Kelly Scalise secured a significant appellate victory for two charitable foundations, The Marshall Heritage Foundation and Marshall Legacy Foundation (“Foundations”), in a trust litigation brought by a co-trustee of the Foundations against a co-trustee of the Peroxisome Trust, the funding trust of the Foundations.
LDR Provides RIB Retaining Certain Sales and Use Tax Exemptions Inadvertently Repealed by State Tax Reform Measures
In response to the 2024 Third Extraordinary Session to address state tax reform, the Louisiana Department of Revenue (the “Department”) issued Revenue Information Bulletin No. 25-009 to clarify that certain exemptions and exclusions were inadvertently repealed due to “technical oversights.”
SCOTUS Stays Injunction on BOI Reporting Requirements
The Supreme Court of the United States stayed a nationwide injunction on January 23, 2025 in McHenry v. Texas Top Cop Shop, Inc. The Financial Crimes Enforcement Network (“FinCEN”) will now be allowed to enforce the filing requirements of the Corporate Transparency Act while the matter is pending in lower courts, meaning any business originally required to file BOI reports before January 1, 2025 must comply immediately.
Employers Win: Lower Burden of Proof Required to Prove FLSA Exempt Status
In E.M.D. Sales, Inc. v. Cabrera, the Supreme Court unanimously held that a preponderance of the evidence standard applies when an employer must demonstrate that its employees were correctly classified as exempt from the minimum-wage and overtime-pay requirements of the Fair Labor Standards Act (“FLSA”).
Second Eastern District of Texas Judge Issues Injunction Against BOI Reporting Enforcement
Another judge with the Eastern District of Texas enjoined enforcement of the Beneficial Ownership Information reporting requirements on Wednesday January 8, 2025.
DOJ Pushes Forward: Emergency Writ Filed to Revive CTA Enforcement
The Department of Justice won’t give up. Today, the Department of Justice filed an emergency writ asking the Supreme Court to suspend the nationwide preliminary injunction holding the Corporate Transparency Act (“CTA”) unconstitutional and to allow enforcement of the act and its Beneficial Ownership Information filings until the final resolution of the case. This request