The U.S. Supreme Court has lifted a preliminary injunction, allowing the enforcement of the Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA). This decision came after a request from the U.S. Department of Justice following previous court rulings that had blocked the law's enforcement.

The National Federation of Independent Business (NFIB), which challenged the CTA in a lawsuit titled Texas Top Cop Shop, Inc., et al. v. Garland, et al., expressed disappointment with the Supreme Court's ruling. Beth Milito, Vice President and Executive Director of NFIB’s Small Business Legal Center, stated, "Today’s decision is a setback for small business." She added concerns about potential chaos if 32 million small businesses are required to file their BOI information while the constitutionality of these requirements is still being determined.

Despite this development, NFIB's lawsuit continues as lower federal courts have yet to rule on the constitutional merits of the CTA. Meanwhile, Congress has an option to address this issue through legislation such as the Repealing Big Brother Overreach Act, which would repeal the CTA and exempt small businesses from its beneficial ownership requirements.