AZ HB2487

Publicly traded corporations doing business in Arizona must file annual disclosure statements with the Arizona Corporation Commission within 30 days of their state tax return due date, or within 90 days of filing federal returns if not required to file state returns.

Disclosure statements must include detailed tax information such as Arizona gross income, taxable income, apportionment factors, tax credits claimed, net operating losses, and actual tax paid by the corporation and its unitary group.

Corporations must also report management fees and royalties paid to affiliated entities, employment figures for the past four years, SEC Form 10-K profits, and identify all corporations in their unitary group across multiple states.

All disclosure statements become public records and must be posted in a searchable database on the Commission's website, remaining available until the third calendar year after the relevant tax year ends.

The corporation's chief operating officer must attest to statement accuracy, and the Commission must implement a penalty system for late or inaccurate filings, publishing the names and penalties of non-compliant corporations.