Repealing Corporate Transparency Act: Less Business Owner Data Required
This act aims to eliminate rules that required many companies to report information about their true owners to the government. This means businesses will no longer need to disclose this data, potentially reducing administrative burdens, but also limiting the availability of information on who truly controls certain economic entities.
Key points
Companies will no longer be required to report beneficial ownership information to the government, simplifying compliance.
Less information about business owners will be publicly available, potentially impacting transparency in commerce.
Introduced
Citizen Poll