Kleinberg Kaplan’s Joshua Bromberg Quoted in Bloomberg Law Regarding the Corporate Transparency Act Ruling

Kleinberg Kaplan partner Joshua Bromberg was quoted in Bloomberg Law article, “Companies Mull Challenges After Corporate Transparency Ruling,” discussing the recent federal court ruling on the Corporate Transparency Act of 2021 (the “CTA”). The ruling declared the CTA unconstitutional, potentially leading to prolonged legal battles and leaving businesses uncertain about compliance.

Joshua emphasized that New York State’s analogue LLC Transparency Act remains unaffected by the ruling, providing some clarity for businesses that will be subject to the New York act’s requirements. Joshua further shared, “From a litigation perspective, the only way to knock out the New York act would be to bring litigation in a federal court in New York asking the court to reach the questions that the Alabama court did not consider.”

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