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A new federal law that went into effect in January will likely affect many businesses in Wisconsin and across the country—in particular, many small businesses that may not even be aware of the new law. The Corporate Transparency Act (CTA) was enacted on January 1, 2021, as part of the Anti-Money Laundering Act of 2020 in the National Defense Authorization Act and went into effect on January 1, 2024.
The CTA was enacted to combat money laundering and terrorism and to create a central register of business ownership information to assist with these combative