This case presents an important question as to the proper application of Article III standing to small businesses who challenge regulations under the Regulatory Flexibility Act, 5 U.S.C. § 601 et seq. ("RFA").

Petitioner, a small business, challenged regulations that were issued by Respondents in implementing the so-called Transition Tax [26 U.S.C. § 965] under the Tax Cuts and Jobs Act of 2017 ("TCJA"), Pub. L. 115–97 (2017). The lawsuit was dismissed for lack of Article III standing.

The question presented is whether a small business has Article III standing to bring an RFA action challenging a regulation, where:
it is the object of the regulation; and
where its past and prospective compliance costs are traceable to an RFA procedural violation which is the basis for its standing.

Whether a small business has Article III standing to bring an RFA action challenging a regulation