As part of the budget reconciliation negotiations, United States (US) Senate Finance Committee Chairman Ron Wyden and Senators Elizabeth Warren and Angus King proposed a 15% corporate alternative minimum tax (CAMT) based on book income for companies that report over US$1 billion1 in profits to shareholders. The CAMT is included as a primary revenue raiser in the latest version of the Build Back Better proposal, which was released 28 October 2021. The proposal would apply to tax years beginning after 31 December 2022.15% minimum tax and Applicable CorporationsThe proposal would amend Internal Revenue Code2 Section 55(b) to establish a 15% minimum tax...