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Bill

S 2037

An Act to require public disclosures by publicly-traded corporate taxpayers

194th Legislature (2025-2026) Introduced by Liz Miranda

Massachusetts bill requires publicly-traded corporations to disclose state and federal tax payments and rates, increasing corporate tax transparency for public scrutiny.

Bill reported favorably by committee and referred to the committee on Senate Ways and Means
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Bill Summary · S 2037

Legislative bill overview

S 2037 requires publicly-traded corporations operating in Massachusetts to publicly disclose their state and federal tax payments, tax rates, and certain financial metrics. The bill aims to increase transparency around corporate tax obligations and actual tax burdens borne by large corporations.

Why is this important

Corporate tax transparency affects public debate over tax fairness, corporate accountability, and whether current tax systems achieve intended outcomes. The data could influence future tax policy discussions and help constituents understand how much major employers contribute to state revenues versus their profits.

Potential points of contention

  • Compliance costs: Corporations argue mandatory disclosure requires significant accounting resources and may expose proprietary financial information
  • Competitive disadvantage: Companies claim detailed tax strategy disclosures could disadvantage them against non-public competitors or foreign firms not subject to similar requirements
  • Scope ambiguity: Unclear how disclosure thresholds are defined (which corporations qualify as "publicly-traded"), what specific metrics must be reported, and how retroactive requirements apply
  • Privacy vs. transparency trade-off: Balancing legitimate public interest in corporate tax contributions against potential misuse of granular financial data

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

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