The U.S. Congressional Research Services (CRS) has published a report dated 7 December 2022 on the new 15% corporate alternative minimum tax (CAMT) introduced by the Inflation Reduction Act of 2022 (previous coverage). The report covers several aspects of the CAMT, including taxable vs. financial income, adjustments to determine tax liability, application of the CAMT to large firms, revenue, industry, and firm effects, comparison to other minimum taxes, effects on incentives, profit shifting, and distribution, and regulatory issues and implementation. The report summary is as follows: --- The 15% Corporate Alternative Minimum Tax The Inflation Reduction Act of 2022 (P.L....