The Inflation Reduction Act of 2022 (“Act”) imposed a 15% corporate minimum tax on the “adjusted financial statement income” (“AFSI”) of taxpayers with more than $1 billion of AFSI, effective for tax ...
As Congress crafts yet another budget, it is time to confront a quiet enabler of America’s growing wealth gap: the way we tax corporate profits. The U.S. corporate tax system is a maze of complexity, ...
The incoming mayor has proposed increasing taxes on large companies and on New Yorkers earning over $1 million.
The Supreme Court on Thursday upheld a provision of a 2017 corporate tax reform law, known as the mandatory repatriation tax, that taxes the undistributed profits from U.S. shares of foreign ...
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