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Message
re: Increasing corporate tax minimum for EARNED income
Posted on 8/7/22 at 4:07 pm to Trevaylin
Posted on 8/7/22 at 4:07 pm to Trevaylin
quote:
yes, but that is not the issue.
You’re wrong. And you don’t even know the issue, I don’t think. This is a corporate AMT. they didn’t raise corporate income tax rates. They remain at 21%. They added a minimum of a 15% tax on book income. It absolutely will increase the tax liability for many corporations.
This post was edited on 8/7/22 at 4:10 pm
2
Posted on 8/7/22 at 4:16 pm to BBONDS25
quote:Any company with undepreciated capital assets is going to get creamed by this.
They added a minimum of a 15% tax on book income. It absolutely will increase the tax liability for many corporations.
Not only will it increase their current liability, it will GREATLY discourage them from future CAPEX. It's one of the dumbest things Democrats have done in a long time. And that is saying something.
Posted on 8/7/22 at 4:18 pm to BBONDS25
AMT works with individuals because reported income is by third parties through w-2's , 1099's etc.
AMT will not work with corporations because they generate their own profit/loss statements.
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