A Corporate Minimum Tax Aimed at Closing ‘Loopholes’ Leaves Gaps

Published On Sep 12, 2024, 8:45 AM

The Treasury Department is set to release proposed rules for a corporate alternative minimum tax, aimed at ensuring that large corporations with over $1 billion in profits pay at least a 15% tax. The tax, which is expected to generate $250 billion over the next decade, seeks to close loopholes that allow these companies to significantly reduce their tax liabilities through various deductions and credits. Despite these efforts, experts suggest many companies may still find ways to pay less than the mandated minimum due to existing tax breaks.