Corporate Tax Law Sees Confusion and Lobbying as Firms Seek Leniency
- The new 15% corporate minimum tax aims to prevent large firms from paying zero federal tax.
- Implementing the tax has proven challenging due to lobbying from industries seeking favorable interpretations.
- The tax applies to over $1 billion profit companies whose rates fall below 21%.
- Major corporations like Amazon and Berkshire Hathaway may see significant tax increases.
- Sectors like energy, film, finance, and foreign firms operating in the US express particular concern.
Boston Globe 