Section 1 Short title
This Act may be cited as the “Corporate Transparency and Accountability Act”.
Corporate Transparency and Accountability Act
A BILL
To amend the Securities Exchange Act of 1934 to require the disclosure of total corporate tax paid by a corporation in each annual report required to be filed under such Act.
Sec. 2 Requirement to disclose total corporate taxes paid
Section 13 of the Securities Exchange Act of 1934 (15 U.S.C. 78m) is amended by adding at the end the following new subsection:
“(s) Disclosure of total corporate taxes paid
“(1) Disclosure requirement—Each issuer required to file an annual or quarterly report under subsection (a) shall disclose in that report—
“(A) the total pre-tax profit of the issuer during the period covered by the report; and
“(B) the total amount paid by the issuer in State and Federal taxes during the period covered by the report.
“(2) Availability of information—The Commission shall ensure that, to the greatest extent practicable, the information required by this subsection is publicly available through the Commission website in a manner that is searchable, sortable, and downloadable.”