Senate’s ‘Unpleasant Surprise’ Hurts Tax Breaks for Tech, Others
- Alternative minimum tax seen falling on almost all companies
- U.S. Chamber of Commerce seeks levy’s repeal in online article
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One of the last-minute, late-night changes Senate Republicans made to their tax-overhaul plan may mean higher taxes for corporations, including technology firms, than the bill’s drafters intended, experts say.
As amended, the Senate tax bill would preserve the existing 20 percent corporate alternative minimum tax, a levy designed to stymie companies’ tax avoidance that applies to fewer than 1 percent of U.S. companies under current law.