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The Case for Retaining the Corporate AMT

By Reuven S. Avi-Yonah

Abstract

PROFESSORS Chorvat and Knoll present us with a strong argument for repealing the corporate alternative minimum tax (AMT). In 2001, repeal was recommended by the Joint Committee on Taxation as part of their simplification study, endorsed by the ABA/AICPA/TEI tax simplification project, and included in a bill passed by the House of Representatives. Since this issue is likely to arise again, it seems worthwhile to review the arguments raised by Chorvat and Knoll. Upon review, none of these arguments seem particularly persuasive; at best, they make a case for reforming the corporate AMT, not for repealing it. On the other hand, Chorvat and Knoll understate the case for retaining the corporate AMT in some form

Topics: Corporate tax, Alternative minimum tax, Business Organizations Law, Tax Law
Publisher: University of Michigan Law School Scholarship Repository
Year: 2003
OAI identifier: oai:repository.law.umich.edu:articles-1046

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