In light of recent developments surrounding the Corporate Transparency Act (CTA), Wyoming Secretary of State Chuck Gray has called on the state’s attorney general to block its enforcement within Wyoming, Wyoming Tribune Eagle reports.
This request follows a Fifth Circuit Court of Appeals decision to stay a nationwide injunction that had previously prevented the US government from implementing the CTA and its associated regulations.
“The CTA is an unconstitutional intrusion hurting Wyoming small business owners,” Gray stated in a news release.
He expressed concern about the reinstatement of the law, which requires many US small business owners to submit corporate transparency reports disclosing beneficial ownership information.
Gray’s letter to Wyoming Attorney General Bridget Hill urges immediate legal action, specifically seeking an injunction to halt the enforcement of the CTA in Wyoming.
“We have been closely monitoring the legal challenges to it,” Gray said.
He emphasized the potential negative impact on the state’s business community.
The CTA, effective since January 1, mandates significant reporting requirements for small businesses. Despite ongoing legal challenges, the US Chamber of Commerce recently confirmed that these obligations will remain in effect while the case is under appeal.
