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Bill

HB 2487

corporate income tax; disclosure; database

57th Legislature - Second Regular Session Introduced by Brian Garcia and 2 co-sponsors

HB 2487 requires Arizona corporations to disclose income tax information into a state database, increasing corporate financial transparency and government tax oversight.

House Second Reading
0
WeVote Research Nonpartisan
Bill Summary · HB 2487

Legislative bill overview

HB 2487 appears to establish new corporate income tax disclosure requirements and create a related database system in Arizona. The bill would mandate corporations to report financial information that would be compiled into a state-maintained database. This represents a significant shift in corporate transparency and tax administration procedures.

Why is this important

Corporate tax disclosure databases affect tax compliance tracking, revenue collection, and public scrutiny of business tax obligations. The system could help identify tax avoidance strategies, inform policy decisions, and increase governmental oversight of corporate finances—though it also raises questions about data security, business confidentiality, and administrative costs.

Potential points of contention

  • Business privacy concerns: Corporations may resist mandatory disclosure of financial details, citing competitive sensitivity and proprietary information protection
  • Implementation costs: Creating and maintaining a comprehensive corporate database requires significant state resources and IT infrastructure investment
  • Data security and misuse: Public or semi-public access to corporate financial information raises cybersecurity risks and potential for data breaches or unauthorized access

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

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