The demographics of the CAMT insights from tax return data Danielle H. Green ... [et al.]
Contributor(s): Green, Danielle H
.
Material type: 
ArticleSubject(s): DECLARACIONES TRIBUTARIAS | IMPUESTO DE SOCIEDADES | IMPUESTO MÍNIMO ALTERNATIVO | ESTADOS UNIDOS
In:
National Tax Journal v.77, n.2, June 2024, p. 383-411Summary: We evaluate the newly enacted corporate alternative minimum tax (CAMT) using proprietary tax return data for the 2018 and 2019 filing years. We find that a subset of income-related book-tax differences, net operating losses, and foreign and general business tax credits are associated with the reporting of both book income more than $1 billion and a low tax liability. Using tax return data, we estimate that, if the CAMT were in effect for 2018 (2019), 166 (63) corporations would likely be affected. We estimate the aggregate CAMT tax liability would be $63.2 billion in 2018 ($2.5 billion in 2019).
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We evaluate the newly enacted corporate alternative minimum tax (CAMT) using proprietary tax return data for the 2018 and 2019 filing years. We find that a subset of income-related book-tax differences, net operating losses, and foreign and general business tax credits are associated with the reporting of both book income more than $1 billion and a low tax liability. Using tax return data, we estimate that, if the CAMT were in effect for 2018 (2019), 166 (63) corporations would likely be affected. We estimate the aggregate CAMT tax liability would be $63.2 billion in 2018 ($2.5 billion in 2019).
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