The Inflation Reduction Act of 2022 created the corporate alternative minimum tax (CAMT), which imposes a 15% minimum tax on the adjusted financial statement income (AFSI) of large corporations for taxable years beginning after Dec. 31, 2022.

2025年2月9日 · The Corporate Alternative Minimum Tax (CAMT) is a key component of the corporate tax system, designed to ensure that businesses with significant income contribute their fair share.

2024年9月12日 · The Inflation Reduction Act created the CAMT, which imposes a 15% minimum tax on the adjusted financial statement income (AFSI) of large corporations for taxable years beginning after Dec. 31, 2022. The CAMT generally applies to large corporations with an average annual AFSI exceeding $1 billion.

2024年10月4日 · Concurrent with the release of the proposed regulations, the IRS released Notice 2024-66, providing a waiver of the addition to tax under section 6655 for underpayment of estimated income tax with regards to CAMT liability for tax years beginning in 2024.

The CAMT imposes a minimum tax on an “applicable corporation” equal to the excess of 15% of its adjusted financial statement income (AFSI) (minus a foreign tax credit) over its regular corporate tax for the year.

2025年2月4日 · The corporate alternative minimum tax (CAMT) is a 15% minimum tax applied to large corporations based on their AFSI, not taxable income. It ensures that companies pay a baseline tax, even if deductions and credits lower their regular tax liability.

2024年11月14日 · In general, the CAMT imposes a 15% corporate alternative minimum tax on the adjusted financial statement income (“ AFSI ”) of certain large corporations for tax years beginning after December 31, 2022. Our prior coverage of the CAMT can be found here.

2024年9月13日 · CAMT stands for Corporate Alternative Minimum Tax. It’s a tax system designed to make sure that even the biggest companies, who sometimes use legal strategies to reduce their tax bills, pay at least a minimum amount of tax.

2023年12月15日 · CAMT generally imposes a 15% minimum tax on the adjusted financial statement income (AFSI) of large corporations whose three-year average annual AFSI exceeds $1 billion (“applicable corporations”). The new guidance follows Notice 2023-64 [PDF 332 KB] , Notice 2023-42 [PDF 89 KB], Notice 2023-20 [PDF 112 KB] , and Notice 2023-7 [PDF 248 KB].

2024年10月1日 · A&M TAX SAYS Congress opted to adopt the financial-statement-based CAMT as a revenue raiser after failing to adopt Pillar 2, diverging from the historic income tax-based corporate alternative minimum tax which was repealed as part of …