My thoughts at this point is many small businesses don't know about this.
Second: this feels so very much like 1938 Nazi Germany when the Jews were required to report property
Third: If for some reason you come under scrutiny ...have you given up your 4th Amendment Right by filing?
Fourth: Point of reference this was vetoed and overridden in by President Trump in 2020.
The CTA is a clear step toward modernization of the United States’ anti-money laundering legal landscape. It will give law enforcement agencies greater access to the beneficial ownership information of entities than ever before. It will also shift the burden of financial institutions from needing to collect customer due diligence information to being able to obtain it from the federal government. These changes of course come at a cost. The anonymity that private company owners have long enjoyed will be rolled back, and the new compliance costs will be shouldered by companies that are often small businesses.
Government is “off the hook.”
They’re just doing whatever they want at this point.
This is just another version of making a law that is only enforced against those the gestapo chooses to review.
Do you really think that any Chinese nationals, Nigerians, Russians or even Canadians will be trapped by this new law?
Nope. Death by a thousand paper cuts.
It’s best when government and business are very closely aligned. Just ask Mussolini. All inside the government, nothing outside.
How dare you want privacy. The massive compliance regimen is a small price to pay to increase national security. As Fauci said, “now is not the time for making money”.
Just pointing out that several states have similar reporting requirements.
I am of the opinion that the timelines are screwed up. The updates should be reported annually within 30 days of the charter/creation anniversary of the business. A standard reporting form (and electronic) should be created to simplify this process.
"Third: If for some reason you come under scrutiny ...have you given up your 4th Amendment Right by filing?"
First, the bottom line...
Consider that political party and media fuss about "obsolete" electoral college is because the electoral college is the only thing stopping the corrupt political parties from establishing a permanent puppet presidency that will unquestioningly sign unconstitutional taxing and spending bills into law.
Tying unconstitutional federal taxing and spending to your concern about the Corporate Transparency Act (CTA) weakening 4th Amendment (4A) protections, consider that the 16th Amendment (16A) not only unthinkingly and wrongly weakened 4A protections imo, but has now also helped to foster the CTA.
"16th Amendment : The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration."
The CTA further weakens taxpayers' 4A protections when you consider that probably most federal taxes that citizens now pay under 16A are unconstitutional imo, most federal spending now based on state revenues (citizens' wallets) that corrupt Congress steals from citizens by means of 16A taxes, taxes that Congress cannot reasonably justify under its constitutional Article I, Section 8-limited powers and a few other constitutionally enumerated expenses.
"Congress is not empowered to tax for those purposes which are within the exclusive province of the States." —Justice John Marshall, Gibbons v. Ogden, 1824.
“ If the tax be not proposed for the common defence, or general welfare, but for other objects, wholly extraneous, (as for instance, for propagating Mahometanism among the Turks, or giving aids and subsidies to a foreign nation, to build palaces for its kings, or erect monuments to its heroes,) it would be wholly indefensible upon constitutional principles [emphases added].” — Justice Joseph Story, Commentaries on the Constitution 2 (1833).
From the congressional record:
”Simply this, that the care of the property, the liberty, and the life of the citizen, under the solemn sanction of an oath imposed by your Constitution, is in the States and not in the federal government [emphases added]. I have sought to effect no change in that respect in the Constitution of the country.” —John Bingham, Congressional. Globe. 1866, page 1292 (see top half of third column)
“Cherish, therefore, the spirit of our people, and keep alive their attention. If once they become inattetive to the public affairs, you and I, and Congress and Assemblies, judges and governors, shall all become wolves [emphasis added]. It seems to be the law of our general nature.” - Thomas Jefferson (Letter to Edward Carrington January 16, 1787)
Pelosi: "We have to pass the bill so that you can find out what is in it." (non-FR; 6 sec.)
Democrats [and RINOs] Are Terrified Of An Educated And Informed Public (3.12.23)
The remedy for the corrupt, constitutionally undefined political parties that have pirated control of state and federal governments...
Democratic and Republican Trump supporters need to be ready NOW to primary ALL incumbent state and federal incumbent lawmakers and executives up for reelection this year, except for MTG, Gaetz & Company (and others?), replacing them with new Constitution-respecting patriot lawmakers who will not only support hopeful Trump 47 to finish draining the swamp, but will also do the following.
New lawmakers need to support Trump in leading the states to put a stop to unconstitutional federal taxes and unconstitutional interference in the affairs of the sovereign states by effectively "seceding" ALL the states from the unconstitutional big federal government by repealing 16A along with the 17th Amendment (17A; popular voting for federal senators).
Consider the repealing of 16&17A as part of reparations for victim taxpayers of the unconstitutionally big federal government for having to pay a lifetime of unconstitutional federal taxes, taxes that Congress cannot reasonably justify under its constitutional Article I, Section 8-limited powers and a few other constitutionally enumerated expenses.
In fact, consider that since one of the very few powers that the states have expressly constitutionally given to the big, bad federal government to dictate peacetime domestic policy is to run the US Mail Service (most federal domestic policy actually based on stolen state powers imo), the worst problem that the country would otherwise be looking at with a new Congress of Trump-supporting freshman lawmakers is arguably that citizens that would get into the habit of lightheartedly questioning if the federal government has shutdown if they receive their mail a few days late.
"Article I, Section 8, Clause 7: To establish Post Offices and post Roads;"
"From the accepted doctrine that the United States is a government of delegated powers, it follows that those not expressly granted, or reasonably to be implied from such as are conferred, are reserved to the states, or to the people. To forestall any suggestion to the contrary, the Tenth Amendment was adopted. The same proposition, otherwise stated, is that powers not granted are prohibited [emphasis added]." —United States v. Butler, 1936.
The definition of insanity is reelecting your beloved career state and federal lawmakers and executives over and over again, expecting those same politicians to find remedies for unconstitutional government policies every time.
Let's not allow ourselves to be fooled for third time in this election year by the corrupt political parties.
Again, consider that corrupt political party and media fuss about "obsolete" electoral college is because the electoral college is the only thing stopping the corrupt political parties from establishing a permanent puppet presidency that will unquestioningly sign unconstitutional taxing and spending bills into law.
The U.S. federal government has just declared itself the silent partner to every mom and pop shop in the nation, declaring ‘a cut’ or iy will extinguish the busoness and jail the owners.
Hello, Biden Fascism!!
I think it would behoove (what a word!) all businesses to delay until around September. At that time see what else has happened to clarify things.
I see this CTA thing as another absurd infringements of rights we supposedly had in ages gone by.
BTW - I am wondering if drug dealers and cartel services, prostitutes and shoplifters are exempt. Somehow, I I expect they have special roolz.
bkmk