News & Analysis as of September 19, 2024

Alternative Minimum Tax › Excise Tax

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The Alternative Minimum Tax is an aspect of the United States federal tax code that seeks to capture a minimum level of revenue from all taxpayers and to ensure that some earners are not escaping tax liability through certain tax breaks or deductions. Liability under the AMT is calculated by adding certain deductions back into an individual's adjusted gross income, subtracting the AMT exemption and then, paying a percentage of the remaining figure. less -

IRS Issues Initial Guidance for New Excise Tax on Stock Buybacks and Corporate Alternative Minimum Tax

Skadden, Arps, Slate, Meagher & Flom LLP on 12/30/2022

On December 27, 2022, the IRS issued two notices providing key initial guidance for the new excise tax on corporate stock buybacks and the new corporate alternative minimum tax (CAMT). Both the excise tax and the CAMT were...more

Treasury announces limited IRA tax guidance to ring in the new year

Eversheds Sutherland (US) LLP on 12/21/2022

On December 19, 2022, Treasury announced a timeline for releasing information on certain tax provisions of the Inflation Reduction Act (IRA). As set forth in the announcement, Treasury will provide the following information...more

Inflation Reduction Act

White and Williams LLP on 9/21/2022

On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 (“IRA”) into law. While much of the legislation is geared towards climate change mitigation, clean energy, and provisions to promote health care...more

President Biden Signs the Inflation Reduction Act into Law

Akerman LLP on 9/2/2022

On August 16, 2022, President Joe Biden signed the Inflation Reduction Act of 2022 (H.R. 5376) (the IRA) into law. The key provisions that may affect the private equity sector and corporations include...more

US Inflation Reduction Act – Corporate Minimum Tax and Stock Repurchase Excise Tax

Mayer Brown Free Writings + Perspectives on 9/1/2022

If you thought the recent price increase at your neighborhood store was inflation’s last flop, think again. The Inflation Reduction Act (“IRA”), which was signed into law by President Biden on August 16, 2022, is estimated to...more

Overview of Some Changes in the Inflation Reduction Act of 2022

Fox Rothschild LLP on 8/31/2022

President Joe Biden signed the Inflation Reduction Act of 2022 (the “IRA”) into law on Aug. 16, 2022, resulting in significant changes to the Internal Revenue Code. An overview of a few of the changes is below....more

Inflation Reduction Act of 2022: Corporate Alternative Minimum Tax, Excise Tax on Corporate Stock Repurchases, and Business Loss...

Dechert LLP on 8/26/2022

On August 12, 2022, the U.S. Congress passed the Inflation Reduction Act of 2022 (the “Act”), which was signed into law by President Biden on August 16, 2022. Alongside sweeping changes to energy, environmental and...more

Tax Changes in Inflation Reduction Act

Levenfeld Pearlstein, LLC on 8/25/2022

On August 7, 2022, the Senate passed the Inflation Reduction Act of 2022. The legislation passed the House on August 12, and was signed by President Biden on August 16. Among significant changes designed to fight climate...more

Analysis: Impact of Inflation Reduction Act’s Stock Buyback Excise Tax and Corporate Minimum Tax

Latham & Watkins LLP on 8/22/2022

Beginning in 2023, an excise tax of 1% will apply to public company stock buybacks and a 15% corporate minimum tax generally will apply to corporations with book income exceeding $1 billion. Key Points: ..Public...more

Inflation Reduction Act Tax Implications

Lowenstein Sandler LLP on 8/17/2022

The President is expected to imminently sign the Inflation Reduction Act of 2022 (the “Act”), which was passed by both the Senate and House of Representatives. This Client Alert addresses two main tax provisions in the...more

The Inflation Reduction Act: A Tax Overview

Miller Canfield on 8/16/2022

The Inflation Reduction Act of 2022 (the “Act”), which passed both chambers of Congress on Aug. 12, 2022, includes the following tax provisions meant to raise government revenues and subsidize green energy initiatives....more

Tax Implications of the Inflation Reduction Act

Cooley LLP on 8/12/2022

On August 7, 2022, the US Senate passed the Inflation Reduction Act (House Resolution 5376), which contains tax, climate and healthcare provisions. The legislation is widely expected to be passed by the House of...more

U.S. Senate Passes Inflation Reduction Act

Paul Hastings LLP on 8/11/2022

On August 7, after weeks of negotiations, the Senate voted 51-50 to pass a budget reconciliation package known as the Inflation Reduction Act (the “Bill”), introduced by Senators Joe Manchin (D‑WV) and Chuck Schumer (D‑NY) in...more

Nelson Mullins Tax Report – Senate Passes Inflation Reduction Act

Nelson Mullins Riley & Scarborough LLP on 8/10/2022

On August 7, 2022, the Senate passed the budget reconciliation bill known as the Inflation Reduction Act. The legislation includes several key tax provisions, and addresses health insurance and prescription drug...more

Revised U.S. Tax Proposals Will Affect Foreign Investment

Davies Ward Phillips & Vineberg LLP on 11/9/2021

The U.S. House Committee on Rules recently released an updated version of the Build Back Better Act (Act) to reflect the White House’s Build Back Better framework (Framework) announced on the same day (October 28, 2021). ...more

Tax Reform’s Impact on Transportation Finance Transactions

Vedder Price on 8/24/2018

New tax legislation was signed into law on December 22, 2017 (the Act). The Act lowers the corporate rate from a top graduated rate of 35 percent to a flat rate of 21 percent. Under the Act individuals and certain...more

Global Transportation Finance Newsletter - August 2018

Vedder Price on 8/22/2018

In This Issue: - EU Risk Retention Undertakings in U.S. General Equipment ABS: Evolving Market Practice - PDP Financing: An Overview - Tax Reform’s Impact on Transportation Finance Transactions EU Risk Retention...more

Practical Insights on Tax Reform: Impact on Exempt Organizations

Nutter McClennen & Fish LLP on 4/2/2018

On December 22, 2017, President Trump signed into law legislation, known as the Tax Cuts and Jobs Act (“TCJA”), which is the most extensive overhaul of the United States Internal Revenue Code (the “Code”) in 30 years. In...more

Analysis of Key Provisions of the Tax Cuts and Jobs Act

Ballard Spahr LLP on 1/9/2018

As we are sure you know, H.R. 1, informally known as the Tax Cut and Jobs Act, became law on December 22, 2017. This new law will impact almost all taxpayers. Ballard Spahr's Tax Group has prepared a detailed summary of...more

U.S. Tax Reform – Key Highlights for Private Investment Funds in Tax Cuts and Jobs Act Bill

Proskauer Rose LLP on 12/21/2017

On Friday, December 15, 2017, the Congressional conference committee released a revised version of the Tax Cuts and Jobs Act (the "Tax Bill"). The Senate and the House are expected to vote on the Tax Bill this week. The Tax...more

Just-Passed Tax Cuts and Jobs Act Will Significantly Impact Higher Education

K&L Gates LLP on 12/21/2017

House and Senate Republicans passed a comprehensive tax reform bill on December 20, 2017 that makes sweeping changes throughout the Internal Revenue Code affecting many educational institutions, as well as most individuals...more

House of Representatives and Senate Conferees Reach Agreement on the Tax Cuts and Jobs Act (H.R. 1): Description of the Conference...

Proskauer - Tax Talks on 12/19/2017

On Friday, December 15, the U.S. House of Representative and Senate conferees reached agreement on the Tax Cuts and Jobs Act (H.R. 1) (the “Final Bill”), and released legislative text, an explanation, and the Joint Committee...more

U.S. Senate Passes Its Version of the Tax Cuts and Jobs Act (H.R. 1); Descriptions of the Bills Passed in the House and Senate and...

Proskauer - Tax Talks on 12/12/2017

In the early hours of Saturday morning, the U.S. Senate passed the Tax Cuts and Jobs Act (H.R. 1) (the “Senate bill”), just over two weeks after the U.S. House of Representatives passed its own version of the same legislation...more

House of Representatives Passes the Tax Cuts and Jobs Act (H.R. 1); Senate Finance Committee Approves Modified Version; Comparison...

Proskauer - Tax Talks on 11/20/2017

Yesterday afternoon, the House of Representatives passed the Tax Cuts and Jobs Act (H.R. 1) (the “House bill”). The House bill is identical to the draft bill approved by the House Ways and Means Committee on November 10. Late...more

Tax Reform: The Shifting Landscape of Executive and Equity Compensation

Pillsbury Winthrop Shaw Pittman LLP on 11/20/2017

The House and Senate propose wide-sweeping amendments to the tax rules regarding executive and equity compensation that would affect public and private for-profit companies as well as tax-exempt organizations. The House...more

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Alternative Minimum Tax › Excise Tax

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