regulatory
confidence high
sentiment neutral
materiality 0.30
Gallagher says Inflation Reduction Act 15% AMT likely not material to taxes
Arthur J. Gallagher & Co.
- IRA passed U.S. Senate Aug 7, 2022; if signed, 15% alternative minimum tax for large corporations begins 2023.
- Gallagher expects to meet Adjusted Financial Statement Income threshold but no material additional tax liability from AMT.
- IRA not expected to materially impair ability to utilize tax credit carryforwards, based on current elections.
- Preliminary analysis subject to change based on IRS regulations, interpretations.