15% minimum tax on large US corps proposed by Treasury, raising $250B over a decade as part of Inflation Reduction Act.
The US Treasury has proposed a 15% minimum tax on the largest corporations, expected to raise $250 billion over the next decade. Targeting around 100 firms that currently pay an average of just 2.6%, this initiative is part of the 2022 Inflation Reduction Act and aims to curb tax avoidance. The rules will be open for public comment until December 12 and will apply to the 2024 tax year.
September 12, 2024
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