The State of the States: 2024The State of the States: 2024
An update on key planning developments.
State legislatures have been very busy on several trust and estate-related fronts. Here’s an update on some key planning developments across the country through Dec. 6, 2024.
State-Level Corporate Transparency
The Corporate Transparency Act (CTA), which went into effect Jan 1, 2024, mandates that most U.S. business entities disclose beneficial ownership information (BOI) to the Financial Crimes Enforcement Network (FinCEN). However, on Dec. 3, 2024, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction barring the enforcement of the CTA.1 FinCEN announced that the government filed a notice of appeal on Dec. 5, so how this plays out is yet to be seen. While the litigation is ongoing, FinCEN i...
Unlock All Access Premium Subscription
Get Trusts & Estates articles, digital editions, and an optional print subscription. Choose your subscription now and dive into expert insights today!
Already Subscribed?
