Don’t Mess With Texas Part 3 – BOI Halted?

A few months ago, the Federal Court in the Northern District of Texas issued a nationwide injunction on the FTC’s non-compete regulation. The Eastern District of Texas stepped in a few weeks back and struck down the U.S. Department of Labor’s (DOL) rule that raised the minimum salary required to be paid to most employees classified as exempt from overtime and minimum wage requirements under the Fair Labor Standards Act (FLSA).

Well, the Eastern District of Texas wasn’t done and now has issued a nationwide injunction on the FINCEN BOI filing requirement. What does this mean for you? If you filed, then you are compliant in the event the ruling is appealed and overturned. If you did not file as of yet, you are not required to for now. However, please be ready in the event an appeals court reverses the decision.

Ultimately, I think this will end up at the Supreme Court, unless the new administration decides to back away from pursuing the appeal. Regardless, “Don’t Mess With Texas” notches another one its belt.