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HD 3385

An Act requiring public disclosures by publicly-traded corporate taxpayers

194th Legislature (2025-2026) Introduced by Dan Donahue and 1 co-sponsor

Massachusetts bill requiring publicly-traded corporations to publicly disclose state and federal taxes paid and effective tax rates to increase corporate tax transparency.

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Bill Summary · HD 3385

Legislative bill overview

HD 3385 requires publicly-traded corporations doing business in Massachusetts to disclose their state tax payments, federal tax payments, and effective tax rates publicly. The bill mandates these disclosures be filed with the state and made accessible to the public, creating transparency around how much major corporations actually pay in taxes relative to their revenues.

Why is this important

Corporate tax transparency affects public understanding of tax fairness and revenue distribution. Citizens and policymakers currently lack reliable data on whether large corporations pay proportional taxes, making it difficult to evaluate tax policy effectiveness or identify potential revenue gaps. This disclosure requirement could inform debates about tax policy reform and corporate accountability.

Potential points of contention

  • Business competitiveness concerns: Corporations may argue public disclosure of tax strategies and effective rates creates competitive disadvantages or exposes proprietary financial information
  • Compliance costs: Companies would face administrative costs to compile and file disclosures, potentially passing these costs to consumers
  • Federal vs. state authority: Questions about whether Massachusetts can require disclosure of federal tax information and whether this duplicates existing SEC reporting requirements
  • Data interpretation risk: Without context, raw tax payment figures could mislead the public about tax avoidance when legitimate deductions or timing differences explain variations

Compiled from official sources — confirm details with the bill’s official record.

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