News & Analysis as of

Corporate Taxes Biden Administration

Cadwalader, Wickersham & Taft LLP

Balancing Uncle Sam’s Checkbook: Biden’s Tax Proposals

In President Biden’s recent State of the Union Address, he called on corporations and wealthy taxpayers to pay their “fair share” through proposals to end tax breaks for private jets, further limit deductions for executive...more

Rivkin Radler LLP

“C’mon Man! Tax the Rich!” Business Owners Face Tax Increases*

Rivkin Radler LLP on

Last week, Sen. Warren reintroduced her “Ultra-Millionaires” wealth tax proposal to the Senate. Query her timing. The measure has the proverbial snowball’s chance in Hell of being enacted by this Congress.Perhaps the Senator...more

Brownstein Hyatt Farber Schreck

White House FY2025 Budget Request: Key Tax Takeaways

On Monday, March 11, President Joe Biden released his budget request to Congress (“Budget”) and various accompanying documents. Separately, the Treasury Department released its General Explanations of the Administration’s...more

Brownstein Hyatt Farber Schreck

Fiscal Year 2025 Greenbook Provisions Chart

On Monday, March 11, President Joe Biden released his budget request to Congress (“Budget”) and various accompanying documents. Separately, the Treasury Department released its General Explanations of the Administration’s...more

Alston & Bird

Green Book Previews Biden Administration’s Opening Offer in 2025 Tax Reform Debate

Alston & Bird on

Our Federal & International Tax Group covers notable business and individual tax proposals revealed by the Biden Administration in this year’s Green Book....more

Groom Law Group, Chartered

Déjà Vu: Biden’s 2025 Budget Nearly Identical on Health, Retirement

On March 11, 2024, President Biden released his budget for Fiscal Year 2025. Hewing closely to proposals in its last budget, the Administration’s new budget proposes a number of major tax increases, including the following...more

Brownstein Hyatt Farber Schreck

The White House Releases FY 2025 Budget Tax Priorities

Earlier today, the White House released its fiscal year (FY) 2025 budget request to Congress. Overall, it proposes $7.3 trillion in total spending, including a proposed $895 billion for defense and approximately $621 billion...more

Brownstein Hyatt Farber Schreck

Tax Takeaways from Biden’s State of the Union Address

President Joe Biden delivered his third State of the Union address on March 7, emphasizing the tax-policy priorities that will continue to take center stage in his ongoing presidential campaign. Similar to last year’s...more

Brownstein Hyatt Farber Schreck

A Look Ahead into Tax Policy in 2024

As Congress heads into 2024 and President Biden starts the last year of his term, a host of tax issues remain unaddressed, including a much-anticipated expiring tax provisions package, pending regulatory guidance, the outcome...more

Brownstein Hyatt Farber Schreck

House Republicans Introduce Expansive Tax-Reform Package: The American Families and Jobs Act

House Ways and Means Committee Chairman Jason Smith (R-MO) unveiled committee Republicans’ economic-growth package on June 9, introducing three individual bills that encompass tax provisions relevant to a broad cross-section...more

Skadden, Arps, Slate, Meagher & Flom LLP

The 2024 Green Book and Tax Implications: A Primer

On March 9, 2023, the Treasury Department released the General Explanations of the Administration’s Fiscal Year 2024 Revenue Proposals (sometimes called the Green Book) to accompany President Joe Biden’s proposed budget for...more

Brownstein Hyatt Farber Schreck

White House Releases FY 2024 Budget Request

Earlier today, the White House released its fiscal year (FY) 2024 budget request to Congress. Overall, it proposes $6.9 trillion in total spending, including a proposed $880 billion for defense and approximately $992 billion...more

Wilson Sonsini Goodrich & Rosati

Treasury and the IRS Release Interim Guidance on the One-Percent Excise Tax on Stock Repurchases by Publicly Traded Companies

The “Inflation Reduction Act” introduced Section 4501, which contains a new one percent excise tax on certain stock repurchases and economically similar transactions undertaken by publicly traded U.S. corporations and certain...more

Nutter McClennen & Fish LLP

M&A in Brief: Q4 2022

Headlines - - Tax Issues for F Reorganizations in M&A Transactions - Presidential Executive Order Places Heightened Importance on National Security Risks and Committee on Foreign Investments in the United States...more

Brownstein Hyatt Farber Schreck

Taxation & Representation, September 13, 2022

LEGISLATIVE LOWDOWN - Recess Recap: What happened over the last month in the world of tax?   Congress Considers Options to Delay Impending Shutdown. With Congress unable to reach a consensus on appropriations bills for...more

Cadwalader, Wickersham & Taft LLP

Key Features and Ambiguities of the New Corporate Book Minimum Tax

The Inflation Reduction Act of 2022 imposes a 15% corporate Book Minimum Tax (“BMT”) for taxable years beginning after December 31, 2022. The BMT is a 15% tax on certain domestic corporations’ Applicable Financial Statement...more

Williams Mullen

Inflation Reduction Act of 2022 Contains Tax Changes

Williams Mullen on

​​​​​​​On Tuesday August 16, President Biden signed the Inflation Reduction Act of 2022 into law (the “Act”). The enacted legislation contains several revenue-raising tax provisions detailed below. ...more

Akerman LLP

President Biden Signs the Inflation Reduction Act into Law

Akerman LLP on

On August 16, 2022, President Joe Biden signed the Inflation Reduction Act of 2022 (H.R. 5376) (the IRA) into law. The key provisions that may affect the private equity sector and corporations include...more

Mayer Brown Free Writings + Perspectives

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

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...more

Stinson LLP

The Impact of the New Inflation Reduction Act on Infrastructure Initiatives

Stinson LLP on

Congress has injected yet another wave of stimulus funding as the Biden Administration attempts to shape the future of America’s infrastructure. On August 16, 2022, President Biden signed into law House Bill 5376, known as...more

Dorsey & Whitney LLP

Inflation Reduction Act: New U.S. Excise Tax on Stock Repurchase Transactions Applicable to Certain Canadian Companies

Dorsey & Whitney LLP on

On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022, HR 5376 (the “Act”), into law. Among other significant changes, the Act includes a new 1% excise tax on stock repurchase transactions by certain...more

Dorsey & Whitney LLP

Inflation Reduction Act: New Excise Tax Discourages Stock Repurchase Transactions

Dorsey & Whitney LLP on

​​​​​​​On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022, HR 5376 (the “Act”), into law. Among other significant changes, the Act includes a new 1% excise tax on stock repurchase transactions by...more

Sheppard Mullin Richter & Hampton LLP

Key Corporate Tax Aspects of the New Inflation Reduction Act

On August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022 (the Act), a sweeping bill with significant tax, energy and healthcare implications...more

Eversheds Sutherland (US) LLP

Inflation Reduction Act imposes a nondeductible 1% excise tax on certain corporate stock buybacks

​​​​​​​On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 (the IRA) into law. Among the provisions of the IRA is a nondeductible 1% excise tax on the repurchase of corporate stock (the Buyback...more

Cadwalader, Wickersham & Taft LLP

Tax Provisions in the Inflation Reduction Act of 2022

President Biden signed the Inflation Reduction Act of 2022 (the “IRA”) into law on August 16, 2022, after passage with majority Democratic support in the Senate and the House. The new legislation contains significantly fewer...more

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