Illustration of FASB ASU 2023-09 new income tax disclosures under Topic 740 — a financial statement footnote with a tax table and a globe showing income taxes paid by jurisdiction
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ASU 2023-09: New Income Tax Disclosures (Topic 740)

BySW Accounting admin

Do private companies have to change their income tax disclosures? Yes — in part. FASB ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, requires all entities to disclose income taxes paid (net of refunds) by federal, state, and foreign jurisdiction — and by any individual jurisdiction equal to or greater than 5%…