Business Law
Business Law News ISSUE 3, 2023
Content
- B-LAW B-LAW B-LAW: THE "SNITCH RULE"
- Business Law News Editorial Team
- Ditching Paper Stock Certificates: How To Issue Uncertificated Shares
- Executive Committee of the Business Law Section 2023-2024
- Introducing Ucc Article 12 and the Controllable Electronic Record
- It's Berry Hard To Believe, But Growers and Marketers May Not Be Jointly Liable For Laborers' Wages, Even In California
- Letter From the Chair
- Letter From the Editor
- Table of Contents
- Business Tax Law Changes In the Inflation Reduction Act of 2022
BUSINESS TAX LAW CHANGES IN THE INFLATION REDUCTION ACT OF 2022
Written by Kenneth W. Minesinger, JD, Richard Ardito, CPA, and Riste Simnjanovski, D.P.A*
INTRODUCTION
After months of debate, Congress passed and President Biden signed into law on August 16, 2022, H.R. 5376, 117th Cong. (2022) more commonly known as the Inflation Reduction Act (hereafter, IRA) of 2022.01 The stated purpose of the IRA was to promote clean energy, reduce historically high inflation rates of up to 9.1%, reduce the cost of prescription drugs, and reduce the deficit. In addition to those highly publicized provisions, the IRA included many business and individual tax provisions. Although some consumer tax provisions will be briefly covered, this article will focus on the tax provisions affecting businesses, including many of the new taxes, credits, and deductions contained in the IRA.
CORPORATE ALTERNATIVE MINIMUM TAX