ASU 2023-09: New FASB Rule Enhances Income Tax Disclosures for Public Companies
Cherry Bekaert
FEBRUARY 12, 2024
ASU 2023-9 Overview ASU 2023-09 amends FASB Accounting Standards Codification (ASC) Topic 740 and requires all entities to annually disclose federal, state and foreign income tax paid (net of refunds received). Tax Credits The tax credits category should reflect the effect of tax credits of the federal jurisdiction of domicile.
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