乐鱼（Leyu）体育官网 report: Draft forms provide insight into compliance burden imposed by new CAMT
A 乐鱼（Leyu）体育官网 report that discusses draft CAMT forms, and data and computational results they require
Draft forms provide insight into compliance burden imposed by new CAMT
Newly released [PDF 404 KB] and [PDF 396 KB], which were released without accompanying instructions, nonetheless provide insight into the extent of the compliance burden imposed by the new corporate alternative minimum tax (CAMT).
H.R. 5376 (commonly called the 鈥淚nflation Reduction Act鈥� (IRA)) created the CAMT, which is a minimum tax based on financial statement net income that applies to applicable corporations (ACs). While there appears to exist a congressional intent to cabin the impact of the CAMT to a small pool of corporate taxpayers, the CAMT exacts an annual compliance burden on a larger universe of taxpayers. Specifically, in every year, a corporation will need to determine (1) whether it is subject to the CAMT (that is, whether it is an AC) and (2) if it is an AC, the amount of its CAMT liability, if any. In a corporation鈥檚 first year as an AC, both determinations will need to be made.
Read an [PDF 242 KB] prepared by 乐鱼（Leyu）体育官网 LLP that discusses the draft CAMT forms, and the data and computational results they require.
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