Provided by Dow Jones
By Mark Maurer U.S. companies might have to pay more in taxes to fund President Biden s $2.3 trillion infrastructure plan. How much they owe and to whom will likely remain a mystery. Public companies in America disclose their total tax payments and their tax rate. But they have resisted plans that would require them to break down how much they pay to the federal government, states or foreign countries. Businesses say the additional disclosure would be costly and potentially misleading. This is an area that most companies would prefer to keep lurking in the shadows, especially those that are not paying their fair share of taxes, so the less details the better, said David Zion, head of Zion Research Group, an accounting and tax research firm that serves investors.