There is yet another update with respect to the Corporate Transparency Act (the “CTA”). Less than two weeks after the U.S. Treasury Financial Crimes Enforcement Network (“FinCEN”) set a new deadline for CTA compliance, both FinCEN and the U.S. Department of Treasury issued separate press releases announcing their intent to not enforce the CTA until new rules are finalized. Stites & Harbison's Corporate Transparency Act Committee takes a look at the update in this Stites & Harbison Client Alert.

On February 26, 2025, the United States Supreme Court unanimously held that a prevailing plaintiff in a trademark infringement case may recover profits only from the defendant named as a party to the proceeding, and may not also recover profits from the defendant’s affiliates who are not parties to the proceeding. Dewberry Group, Inc., fka Dewberry Capital Corp. v. Dewberry Engineers Inc., No. 23-900, _____ U.S. ____ (Feb. 26, 2025). The Court’s decision reinforced the principle of corporate separateness, but also left open the possibility that the federal trademark statute (the “Lanham Act”) might allow trial courts to consider evidence related to a defendant’s affiliates when exercising the discretion to adjust a profits award upwards or downwards for the sake of fairness. IP attorneys Alex MacKay and Sam Miller take a look at the decision in this Stites & Harbison Client Alert.

Compliance with the Corporate Transparency Act (the “CTA”) is no longer voluntary. Businesses subject to the CTA, which includes the majority of entities formed or registered to do business in the United States, will have until March 21, 2025, to file their beneficial ownership information reports with the U.S. Treasury Financial Crimes Enforcement Network (“FinCEN”).

On February 1, 2025, President Trump announced that tariffs of 25% will be imposed on goods imported from Mexico and Canada (with the exception of Canadian energy resources which will be subject to a 10% tariff). In addition, a 10% tariff will also be imposed on certain goods imported from China. The administration’s stated justification for this emergency action is to address the threat posed by illegal aliens and drugs, including fentanyl, that are flowing into the United States. While the details of the tariffs remain unclear, these tariffs will undoubtedly impact both the cost and availability of critical materials required for construction projects across the United States. Accordingly, all contractors would be wise to immediately evaluate applicable clauses in existing contracts that may offer some relief from the time and cost impact resulting from tariffs. Construction attorneys Tyler Lloyd and Steven Henderson take a look at what this will mean to the construction industry in this Stites & Harbison Client Alert.