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US Inflation Reduction Act – Corporate Minimum Tax and Stock Repurchase Excise Tax

By Jason S. Bazar, Lucas Giardelli, Michael Lebovitz, Warren S. Payne, Remmelt Reigersman, Brennan W. Young & Charlene S. Soleimani on August 31, 2022
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If you thought the recent price increase at your neighborhood store was inflation’s last flop, think again. The Inflation Reduction Act (“IRA”), which was signed into law by President Biden on August 16, 2022, is estimated to raise $739 billion over the decade. The IRA is financed primarily by several targeted tax increases. Revenues will go toward initiatives designed to combat climate change, reduce the nation’s debt, and, hopefully, reduce inflation. The IRA is a starkly diminished version of the proposed “Build Back Better Act,” which passed the House in 2021 but never received a vote in the Senate. Most of the tax proposals in the Build Back Better Act didn’t make it into the new bill, but a few did.

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Photo of Michael Lebovitz Michael Lebovitz

Michael Lebovitz is a partner in Mayer Brown’s Tax Transactions & Consulting practice. Mike advises on the tax aspects of international joint ventures, cross-border mergers and acquisitions, post-transaction integration, international corporate finance, capital market transactions and general international tax planning matters across multiple…

Michael Lebovitz is a partner in Mayer Brown’s Tax Transactions & Consulting practice. Mike advises on the tax aspects of international joint ventures, cross-border mergers and acquisitions, post-transaction integration, international corporate finance, capital market transactions and general international tax planning matters across multiple industries including life sciences, media and entertainment, telecom, technology, oil and gas, and industrial and consumer products.

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Photo of Warren S. Payne Warren S. Payne
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  • Posted in:
    Corporate & Commercial, Securities
  • Blog:
    Free Writings + Perspectives
  • Organization:
    Mayer Brown
  • Article: View Original Source

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