Herzfeld, Mindy
Proposed CAMT regs raise questions about viability of minimum tax regimes / by Mindy Herzfeld .-- , 2024
After winning the White House and both chambers of Congress in the 2020 election, the Biden administration made good on its campaign promise of proposing an increase in the corporate tax rate. But the plan to raise the rate to 28 percent ran into a wall in the form of independent Sens. Joe Manchin III of West Virginia and Kyrsten Sinema of Arizona. Enacted instead — as part of 2022’s Inflation Reduction Act — was the corporate alternative minimum tax, a 15 percent tax imposed on large companies, calculated on an alternative tax base that takes as its starting point a company’s financial statements rather than the Internal Revenue Code.
IMPUESTO MÍNIMO ALTERNATIVO
SEGUNDO PILAR (OCDE)
REGLAMENTOS
ESTADOS UNIDOS
Tax Notes International 1048-3306 v. 116, n. 3, October 21 2024, p. 401-406
Proposed CAMT regs raise questions about viability of minimum tax regimes / by Mindy Herzfeld .-- , 2024
After winning the White House and both chambers of Congress in the 2020 election, the Biden administration made good on its campaign promise of proposing an increase in the corporate tax rate. But the plan to raise the rate to 28 percent ran into a wall in the form of independent Sens. Joe Manchin III of West Virginia and Kyrsten Sinema of Arizona. Enacted instead — as part of 2022’s Inflation Reduction Act — was the corporate alternative minimum tax, a 15 percent tax imposed on large companies, calculated on an alternative tax base that takes as its starting point a company’s financial statements rather than the Internal Revenue Code.
IMPUESTO MÍNIMO ALTERNATIVO
SEGUNDO PILAR (OCDE)
REGLAMENTOS
ESTADOS UNIDOS
Tax Notes International 1048-3306 v. 116, n. 3, October 21 2024, p. 401-406