Enacts the MEGA corporations act mandating worldwide combined reporting for large corporations with over one billion dollars in gross receipts.

The MEGA corporations act requires multinational corporations with worldwide gross receipts exceeding one billion dollars to report all profits, both international and domestic, against which the corporate franchise tax can be levied based on the portion of sales made in New York. This act aims to ensure a level playing field with New York-based businesses and that multinationals pay their fair share.

Enacts the MEGA corporations act mandating worldwide combined reporting for large corporations with over one billion dollars in gross receipts.

The MEGA corporations act requires multinational corporations with worldwide gross receipts exceeding one billion dollars to report all profits, both international and domestic, against which the corporate franchise tax can be levied based on the portion of sales made in New York. This act aims to ensure a level playing field with New York-based businesses and that multinationals pay their fair share.