Corporate Transparency and Accountability Act

Bill: 113-hr-5442
Sponsor: full_name: Rep. Pocan, Mark [D-WI-2]
Introduced: 2014-09-10
Policy area: Finance and Financial Sector
Subjects: Business records

Corporate finance and management

Financial services and investments

Government information and archives

Securities

State and local taxation
Latest action: action_date: 2014-09-10
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2014-09-10
action_desc: Introduced in House
text: <p>Corporate Transparency and Accountability Act - Amends the Securities Exchange Act of 1934 to require each issuer of a security required to file an annual or quarterly report to disclose in that report: (1) the issuer's total pre-tax profit during the period covered, and (2) the total amount paid by the issuer in state and federal taxes during that period.</p>

tv_txt: I 113th CONGRESS 2d Session H. R. 5442 IN THE HOUSE OF REPRESENTATIVES September 10, 2014 Mr. Pocan introduced the following bill; which was referred to the Committee on Financial Services 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.

1. Short title This Act may be cited as the Corporate Transparency and Accountability Act . 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. .