Last Minute Retention of Corporate AMT in Senate Tax Bill has Unintended Consequences

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The tax reform bill passed by the Senate early Saturday morning (the “Senate bill”) retains the corporate alternative minimum tax (“AMT”) apparently without any changes to current law. Earlier versions of the Senate bill, consistent with the bill passed by the House, repealed the corporate AMT. This late change to the Senate bill has a number of apparently far-reaching (and hopefully unintended) consequences for corporate taxpayers, including potentially undoing many of the benefits of the international tax reform provisions that are part of the bill.

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