Calif. Bill Could Fundamentally Alter Corp. Tax PrivacySeptember 11, 2020 – Media Mention
Greenberg Glusker Partner, Michael Wiener, shares his insights with Law360 about a California bill that would require the disclosure of tax information for certain businesses in the article, "Calif. Bill Could Fundamentally Alter Corp. Tax Privacy," published on September 11, 2020.
It is valuable and important for lawmakers to receive information on the efficiency of tax credits and incentives, especially in a year of fiscal stress brought by the coronavirus pandemic, Michael Wiener, a tax and real estate partner at Greenberg Glusker in Los Angeles, told Law360. But he said S.B. 972 goes too far. And it's not that significant that the bill was changed to put the tax information in the hands of committees rather than posting it on the FTB website.
"That's just a short, short step from it being publicly disclosed," Wiener said. "There aren't any protections. This has the ability to shame, and to just stir up public sentiment against certain companies or certain corporations."
Read the full article >> (Subscription required)