MEEB SEEKS FEDERAL COURT CORPORATE TRANSPARENCY ACT DETERMINATION
As MEEB has reported previously, many of our clients and colleagues have been debating whether the Corporate Transparency Act’s newly enacted reporting requirements apply to unincorporated associations in Massachusetts, like trusts, which are the most common form of association in Massachusetts.
While there is litigation in other federal districts challenging the constitutionality of the CTA, the question of whether the CTA applies to unincorporated associations persists. We think it is too important not to be answered. To that end, MEEB just recently filed a lawsuit in federal court on behalf of our clients seeking a legal determination as to whether the CTA applies to the many community associations and volunteer board members who reside at these communities across Massachusetts. A copy of the Complaint can be seen here.
We filed suit pro bono as MEEB wants to clarify the issue and hopefully remove the reporting burden which will fall on Boards and managers.
We will keep you updated on the progress of this lawsuit in future newsletters, however, if you have any questions regarding the CTA please contact your attorneys at law@meeb.com.