At Business Structuring Secrets, LLC (BSS), we've always been committed to supporting small businesses and promoting fair, sensible legislation. As proud members of the National Small Business Association (NSBA), we strongly endorse their recent efforts to repeal the Corporate Transparency Act (CTA).

The NSBA's Recent Actions

On July 25, the NSBA, along with over 135 small-business organizations forming the Main Street Employer's coalition, sent a letter to Congress calling for a delay in implementing the CTA. This initiative specifically supports legislation proposed by Senators Tim Scott (R-S.C.) and James Lankford (R-Okla.), which would provide a one-year delay of the CTA and its new disclosure requirements for all small-business owners.

Why We Support This Move

As a company dedicated to helping businesses structure themselves effectively, we at BSS have serious concerns about the CTA:

1. Constitutional Issues: The NSBA recently won a judgment from the U.S. District Court of the Northern District of Alabama, which cited the CTA as unconstitutional. We agree with this assessment and believe the Act oversteps legal boundaries.

2. Data Privacy Concerns: The CTA raises significant questions about the privacy and security of small business owners' personal information. In an era of increasing cyber threats, this is a risk we cannot ignore.

3. Economic Impact: We believe the CTA will have a chilling effect on investment, mentorship, and business growth. This could significantly harm the small business ecosystem that forms the backbone of our economy.

Our Position

While the full implementation of the CTA could lead to considerable income for Business Structuring Secrets, LLC through increased demand for our BOI compliance services, we firmly believe that this legislation is wrong on both moral and constitutional levels. We currently provide BOI compliance services to existing clients at cost in order to protect them from this government overreach.  Our commitment to ethical business practices and the well-being of the small business community far outweighs any potential financial gain.

Looking Forward

We will continue to support the NSBA's efforts to delay and ultimately repeal the CTA. We encourage our clients and fellow small business owners to stay informed about this issue and consider lending their voices to this important cause.

As the situation develops, we at Business Structuring Secrets, LLC promise to keep our community updated and provide guidance on navigating any changes that may come. Our priority remains protecting and supporting small businesses in creating sustainable, compliant, and successful operations.

Stay tuned for more updates, and don't hesitate to reach out if you have any questions about how these potential changes might affect your business structure.
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​If you have any questions, please reach out to Hello@BusinessStructuringSecrets.com or schedule a call from our home page.