Proposed CAMT regs raise questions about viability of minimum tax regimes by Mindy Herzfeld
By: Herzfeld, Mindy
.
Material type: 
ArticlePublisher: 2024Subject(s): IMPUESTO MÍNIMO ALTERNATIVO | SEGUNDO PILAR (OCDE) | REGLAMENTOS | ESTADOS UNIDOS
In:
Tax Notes International v. 116, n. 3, October 21 2024, p. 401-406Summary: 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.
| Item type | Current location | Home library | Call number | Status | Date due | Barcode |
|---|---|---|---|---|---|---|
| Artículos | IEF | IEF | OP 138-Bis/2024/116/3-2 (Browse shelf) | Available | OP 138-Bis/2024/116/3-2 |
Browsing IEF Shelves Close shelf browser
| No cover image available | No cover image available | No cover image available | No cover image available | No cover image available | No cover image available | No cover image available | ||
| OP 138-Bis/2024/116/2-4 Legal service advises withdrawal of EU transfer pricing proposal | OP 138-Bis/2024/116/3 Tax Notes International | OP 138-Bis/2024/116/3-1 Don't ‘B’ left Behind | OP 138-Bis/2024/116/3-2 Proposed CAMT regs raise questions about viability of minimum tax regimes | OP 138-Bis/2024/116/3-3 Where is China now on Pillar 2? | OP 138-Bis/2024/116/3-4 U.K.-U.S. treaty residency requires more than full taxation | OP 138-Bis/2024/116/4 Tax Notes International |
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.
There are no comments for this item.