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LETTER TO CONGRESSIONAL DELEGATION
Alabama Secretary of State Wes Allen and I submitted an official joint request to our state congressional delegations to repeal the Corporate Transparency Act. This Act increases regulatory burdens on small businesses nationwide, placing additional hardship on Mississippi and Alabama citizens.
In this letter, we outlined the errors of this policy from the Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). The Corporate Transparency Act requires small businesses to report beneficial ownership information to FinCEN.
Although the Act was passed presumably as an anti-terrorism effort, it imposes fines and penalties on our hardworking business owners. Mississippians will not be victims to such unnecessary regulation. Repealing this act is in the best interest of all American citizens.
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Our team will continue to tackle the tape in Mississippi, freeing our businesses of regulatory burdens including this Act. I encourage you to read the full letter below and reach out to FinCEN should you have questions. Mississippians may utilize their contact form found here or telephone at 1-800-767-2825.
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