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What’s Hot on Checkpoint for Federal & State Tax Professionals?

ThomsonReuters

The Inflation Reduction Act of 2022 imposes a new 15% corporate alternative (book) minimum tax on the adjusted financial statement income of applicable corporations (those with 3-year average financial statement income of at least $1 billion).

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2022 Year-End Tax Planning Checklist

Withum

Contact a member of Withum’s Tax Services Team to start planning as year-end approaches. Year-End Tax Planning for Businesses. The corporate tax rate is currently a flat 21% rate. Limits on Deduction of Business Interest. Repair and maintenance studies. Purchase price allocation studies.