State Tax Disclosure: Unveiling Corporate Secrets for Fairer Tax Policies.
The article discusses the importance of making state corporate income tax data public to help improve tax policymaking and government transparency. Currently, only a few states require this disclosure. By sharing specific tax information from companies, policymakers and the public can better understand how taxes are distributed and which companies benefit from incentives. This transparency is crucial for making informed decisions about tax policies and holding corporations accountable. Firm-specific data is especially important for making accurate judgments and comparisons between companies and industries. Arguments against disclosure, like revealing proprietary information or impacting business climate, are outweighed by the benefits of transparency.