Bill > AB2439

This bill requires the Franchise Tax Board (FTB), California's state tax agency, to publish a list of the 500 largest corporate taxpayers that file a Form 10-K with the federal Securities and Exchange Commission (SEC), which is a mandatory filing for publicly traded companies to report their financial performance. The list, to be published annually on December 1st, will include the taxpayer's name, their total tax liability (defined as the actual tax owed after credits but excluding payments made in advance), any charitable contributions they made, and whether they elected to use a specific method for calculating their income in California called "single-sales factor apportionment" (Section 25128.5), which focuses solely on sales within the state for tax purposes. This new requirement aims to provide more transparency regarding corporate tax payments in California, as current federal disclosures do not break down taxes by individual states, and to allow for better analysis of the impact of recent changes in California's tax laws. The bill will remain in effect until January 1, 2018, unless extended by future legislation.