Bill > H3083

This bill requires publicly-traded corporate taxpayers to have their tax reports made more transparently available to the public, with several key changes to existing Massachusetts law. Specifically, the bill removes language that previously allowed the state secretary to hide a taxpayer's name and principal office location when making reports available for public inspection. It mandates that the state secretary create and maintain a searchable online database of corporate tax reports, which must include a list of corporations that failed to file reports in the preceding year. The bill also establishes that while these reports will be publicly accessible, they will not be made available until the third calendar year following the tax year in question, likely to allow for any necessary corrections or updates. Additionally, the state secretary is required to provide copies of the entire database on computer-readable media and hard copies of individual annual reports at a cost that covers the state's expenses for producing these documents. These provisions aim to increase transparency in corporate tax reporting while also protecting some sensitivity around immediate disclosure.

Budget and Finance

https://malegislature.gov/Bills/194/H3083