Loading ...Supreme Court Allows Law Requiring Small Businesses To Report Ownership Information
The high court lifted a Fifth Circuit ruling from Dec. 23 that halted the beneficial ownership reporting requirement.
An estimated 33 million small businesses face fines of as much as $591 per day should they fail to comply with the new rule, according to.a Treasury website.
The new Supreme Court order states that the Fifth Circuit’s ruling upholding the injunction is “stayed pending the disposition of the appeal” in the circuit court. The Fifth Circuit has scheduled oral argument in the case for March 25.