(NAFB.com) – The National Cattlemen’s Beef Association hailed a nationwide preliminary injunction blocking the Corporate Transparency Act from being enforced on January 1, 2025. The ruling from the East Texas U.S. District Court protects millions of family farmers and ranchers from onerous reporting requirements imposed by the Financial Crimes Enforcement Network, a division of the Treasury Department. “The CTA requires millions of family farmers and ranchers to file complex paperwork and disclose beneficial ownership information with the federal government under penalty of severe fines and jail time,” says NCBA Executive Director of Government Affairs Kent Bacus. “Cattle producers are relieved that this mandate is on hold while the law is being considered by the courts.” The injunction prevents the CTA from taking effect until the outcome of a case brought by a Texas small business that challenged the legality of the Corporate Transparency Act. “We’ll be working with Congress on a solution,” he added.