BW INSIGHTS

CTA Update: 5th Circuit Poised to Issue Decision; Congress Likely to Weigh-In

By Brennan R. Block & Ellen M. Hames | 12.19.2024
As our previous blog highlighted, numerous small businesses were relieved of their quickly approaching New Years Day deadline to submit beneficial ownership information to the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) under the Corporate Transparency Act (CTA) when a federal district court in Texas issued a nationwide... Read More

U.S. District Court Temporarily Enjoins Enforcement of the Corporate Transparency Act (CTA)

By Brennan R. Block & Ellen M. Hames | 12.04.2024
On December 3, 2024, the U.S. District Court for the Eastern District of Texas, in the case of Texas Top Cop Shop, Inc. et al. vs. Garland (U.S. Attorney General), granted a nationwide preliminary injunction that temporarily enjoins or prohibits the United States federal government from enforcing the Corporate Transparency Act (the “CTA”). For... Read More

Texas Court Ruling on FTC Rule

By Kathryn A. Leidahl | 08.21.2024
On August 20, 2024, Judge Ada E. Brown for the Northern District of Texas issued a nationwide injunction barring the implementation of the Federal Trade Commission’s (FTC) regulation banning noncompete agreements. In April 2023, the FTC issued a final rule banning most new and existing noncompetes nationwide. Judge Brown’s ruling means the FTC ban... Read More

Two Critical Considerations for Employers Ahead of the FTC's Final Rule Effective Date

By Nicholas D. Ott | 08.14.2024
As the Federal Trade Commission's (FTC) final rule banning non-competes approaches its effective date of September 4, 2024, employers should begin preparing for its enforcement. Two key actions employers should consider now include: (1) initiating legal action for breaches of existing and enforceable non-competes, and (2) satisfying the final... Read More

Court Blocks FTC Rule Banning Employment Noncompete Agreements on a Limited Basis

By Danielle Smid | 07.10.2024
On May 7, 2024, the Federal Trade Commission (FTC) issued a Final Rule banning most post-employment non-competes for all workers, except senior executives, employed by for-profit employers. However, recent judicial decisions are stirring up problems for the Final Rule. Important Court Rulings On July 3, 2024, in Ryan LLC v. Federal Trade... Read More

FTC Publishes Final Rule Banning Non-Competes

By Julie Solis-Alvarado | 05.08.2024
On May 7, 2024, the Federal Trade Commission (FTC) published a Final Rule banning most post-employment non-competes. The Final Rule becomes effective on September 4, 2024. While the Final Rule faces statutory and constitutional challenges which may potentially delay and even halt the Effective date, employers should still take steps to become... Read More

The FTC Votes to Ban Non-Compete Agreements

By Julie Solis-Alvarado | 04.24.2024
In a 3-2 vote, the Federal Trade Commission (“FTC”) issued a new rule (the “Final Rule”) on April 23, 2024, banning virtually all post-employment non-competes in employee-employer contracts. In a highly anticipated decision, the FTC found that non-compete agreements between an employer and employee are unfair competition violating section 5 of the... Read More

Major Economic Growth Attraction (MEGA) Program Passes Iowa Legislation

By Rebekah Jalilian-Nosraty | 04.17.2024
Businesses are invited to invest in Iowa by Iowa Legislators. The Major Economic Growth Attraction program (MEGA program) passed yesterday (4/16) with a vote of 47 yeas and 0 nays . The program offers tax incentives for businesses making capital investments and creating jobs in Iowa. Qualified businesses may receive a tax credit for withholding... Read More

Alabama Court Rules CTA Unconstitutional

By Ellen Hames | 03.05.2024
On Friday, March 1, 2024, a U.S. District Court judge in Alabama ruled the Corporate Transparency Act unconstitutional. The Corporate Transparency Act (“CTA”) is a federal law that went into effect January 1 of this year, requiring any entity that does not meet an exemption to file information on its beneficial owners with the Financial Crimes... Read More

Corporate Transparency Act Client Release

By BrownWinick | 11.28.2023
The burdensome new beneficial owner reporting requirements under The Corporate Transparency Act (the “CTA”) take effect January 1, 2024, which is rapidly approaching. BrownWinick clients involved with a business entity in any respect (whether as an owner, director, officer, manager, member, employee, or otherwise) are encouraged to reach out to... Read More

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