What is the Corporate Transparency Act (CTA) in 2024?
The Corporate Transparency Act (CTA) in 2024 is a significant legislative measure aimed at enhancing corporate transparency and combating illicit financial activities such as money laundering, terrorism financing, and tax evasion. Enacted by the United States Congress, the CTA requires corporations, limited liability companies (LLCs), and other similar entities to disclose their beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN). This move is designed to create