The Corporate Transparency Act, which would require certain ranching operations to file their business with the Department of Treasury’s Financial Crimes Enforcement Network, has been halted.
The District Court for the Eastern District of Texas issued a preliminary injunction to prevent the act from taking place until Texas Top Cop Shop, Inc. v. Garland is decided. The case challenges the legality of the Corporate Transparency Act.
“While the preliminary injunction is a relief for cattle producers, we must continue fighting for a long-term solution,” said the National Cattlemen’s Beef Association.
