The Corporate Transparancy Act

Christian is guest speaker on A Good Fight with Jameson Haygood’s radio show, and they speak about the National Defense Authorization Act, which will go into effect on January 1st, 2024. Buried inside this is the Corporate Transparancy Act, which states that it prevents the exploitation of U.S. corporations and LLCs for criminal gain and assists law enforcement in detecting criminal activity. The Act falls under the disguise of an anti-money laundering bill. However, it appears that the bill is another justification for a centralization of power in order to grab information on LLCs and corporations. In essence, if you own an LLC or a corporation, you will have to disclose all ownership and disclose all information on each owner, all their assets, and where the assets are kept. If the government deems that your business in not complying properly to all records, they will fine you up to $250,000 and up to 10 years in jail. Additionally, they will seize all your assets. Thirdly, it pierces attorney/client privilege. Needless to say, this bill is a terrible assault on personal freedom.