Corporate Transparency Act 2024 Website Homepage. The cta was enacted in 2021 to combat illicit activity including tax fraud, money laundering, and financing for terrorism by capturing more ownership information for specific u.s. Effective january 1, 2024, the cta requires certain businesses to disclose beneficial ownership information (boi) to the financial crimes enforcement network.
The bipartisan corporate transparency act, enacted in 2021 to curb illicit finance, requires many companies doing business in the united states to report information about the individuals who ultimately own or control them. The corporate transparency act (cta) was enacted as part of the national defense authorization act in 2021, without much attention.
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