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State tax official: limits to data on foreign subsidiaries, DOTAX can study reporting options
Summary
DOTAX told the House ECD committee it lacks comprehensive data on foreign subsidiaries because corporate reporting and federal norms can hide affiliates; the agency said it could analyze alternative reporting structures but cautioned that resources and legal questions could limit action.
A Department of Taxation (DOTAX) official told the House Committee on Economic Development that the agency lacks full visibility into some corporate foreign subsidiaries and that the absence of that data would limit immediate policy action.
"Not all of it. It's difficult to obtain information from foreign subsidiaries of companies because depending on how the tax law is applied, a corporation might not be required to report even the existence of…
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