Hershey Controller Practices for New Income Tax Disclosure Rules

The Hershey Co.'s global controller is prioritizing dry runs and cross-team communication as the multinational chocolate company hustles to comply with expanded income tax disclosure requirements.

It’s crunch time from now until the end of the year for the chocolate and snack company’s accounting and tax teams to meet the Financial Accounting Standards Board’s new requirements to reveal more details on its state, federal, and international tax obligations, Hershey’s Jonathan Gregory said Wednesday.

Companies have historically reported only lump-sum figures of taxes paid, prompting calls from investors for further transparency. FASB’s rules, finalized in 2023, require companies ...