November/December 2024 - 45

REGULATIONS
human trafficking through the U.S.
economy, " U.S. Treasury Secretary
Janet Yellen said in a December 2023
video. " This dirty money flowing in
from all over the world undermines
fair business competition and poses
risks to our country's economic and
national security. "
The act requires companies
registered to do business in the U.S.
before Jan. 1, 2024 to file information
including name, date of birth,
address and an identifying document
such as a U.S. driver's license or
passport. Newly created companies
must submit the information 90 days
after receiving notice of effective
business registration.
The Treasury Department
estimated 32 million businesses
would be required to file a report
and began accepting filings on Jan. 1
of this year. Yellen testified at a July
hearing that just 2.7 million filings
had been received.
" I think every small business in
America is likely to be surprised, " said
" I think every small business in America is likely
to be surprised. (On) Jan. 1, 2025, you're going to
likely have tens of millions of businesses that are
felons overnight as a result of this law. "
- Dustin Sherer, American Farm Bureau FederationFarm
Bureau
Dustin Sherer, Farm Bureau director
of government affairs. " (On) Jan. 1,
2025, you're going to likely have tens
of millions of businesses that are felons
overnight as a result of this law. "
Lawsuits challenging the CTA have
been filed in six states. In March, a
U.S. District Court ruled that the act
was unconstitutional and unfairly
burdened small businesses - a
decision the Treasury Department
is appealing.
The act also contains 23 exemptions
for businesses already heavily
regulated or for which the collection
of BOI data doesn't serve the public
interest, including banks, insurance
companies, public utilities and large
operating companies - those with
more than 20 full-time employees and
more than $5 million in annual sales.
It all adds up to a confusing
landscape that could affect growers
and processors.
NATIONALNUTGROWER.COM 45

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November/December 2024

Table of Contents for the Digital Edition of November/December 2024

Editor's Letter
2024 Labor Survey
Finding success
Processing redefined
A trusted partner
Fruit & Nut Buyers' Guide
Climate
Regulations
Ad index
November/December 2024 - 1
November/December 2024 - 2
November/December 2024 - 3
November/December 2024 - Editor's Letter
November/December 2024 - 5
November/December 2024 - 2024 Labor Survey
November/December 2024 - 7
November/December 2024 - 8
November/December 2024 - 9
November/December 2024 - Finding success
November/December 2024 - 11
November/December 2024 - 12
November/December 2024 - 13
November/December 2024 - Processing redefined
November/December 2024 - 15
November/December 2024 - 16
November/December 2024 - 17
November/December 2024 - A trusted partner
November/December 2024 - 19
November/December 2024 - 20
November/December 2024 - 21
November/December 2024 - 22
November/December 2024 - Fruit & Nut Buyers' Guide
November/December 2024 - 24
November/December 2024 - 25
November/December 2024 - 26
November/December 2024 - 27
November/December 2024 - 28
November/December 2024 - 29
November/December 2024 - 30
November/December 2024 - 31
November/December 2024 - 32
November/December 2024 - 33
November/December 2024 - 34
November/December 2024 - 35
November/December 2024 - 36
November/December 2024 - 37
November/December 2024 - 38
November/December 2024 - 39
November/December 2024 - 40
November/December 2024 - 41
November/December 2024 - 42
November/December 2024 - Climate
November/December 2024 - Regulations
November/December 2024 - 45
November/December 2024 - 46
November/December 2024 - 47
November/December 2024 - 48
November/December 2024 - 49
November/December 2024 - Ad index
November/December 2024 - 51
November/December 2024 - 52
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