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February 3, 2023
2023-0213

Tuesday, February 28 | Corporate alternative minimum tax: what the latest interim guidance could mean for companies (1 pm ET)

While Notice 2023-7 (the notice) addressed several taxpayer issues around the new 15% corporate alternative minimum tax (CAMT), many questions remain unanswered. As the CAMT is effective beginning in tax year 2023, companies need to understand the notice now to determine how to comply.

Join our team of Ernst & Young LLP subject matter professionals for a discussion of the technical aspects, implications and uncertainties of the notice, including:

  • Safe harbor methodology for determining "applicable corporation" status
  • Termination of "applicable corporation" status following certain transactions
  • Adjustments to adjusted financial statement income (AFSI)
  • Depreciation adjustment rules under IRC Section 56A(c)(13)

Date: Tuesday, February 28, 2023

Time: 1:00–2:00 p.m. ET New York; 10:00–11:00 a.m. PT Los Angeles

Registration: View archive here.

Panelists

  • Brian Peabody, Principal, National Tax – International Tax and Transaction Services, Ernst & Young LLP
  • Dan Penrith, Senior Manager, National Tax – Accounting Periods, Methods & Credits, Ernst & Young LLP
  • Rayth Myers, Senior Manager, National Tax – Accounting Periods, Methods & Credits, Ernst & Young LLP
  • Lulu Ma, Senior Manager, National Tax – International Tax and Transaction Services, Ernst & Young LLP
  • Jeshua Wright, Senior Manager, National Tax – International Tax and Transaction Services, Ernst & Young LLP

Moderator

  • Scott Mackay, EY Americas Quantitative Services Leader and Partner, National Tax Leader – Accounting Periods, Methods & Credits, Ernst & Young LLP

CPE credit offered: up to 1.2 depending on duration. Recommended field of study: Taxes. Learning objective: Identify: a) key provisions of the CAMT; b) key aspects of Notice 2023-7, including the computation of AFSI, determination of applicable corporation status, and depreciation adjustments; and c) unanswered CAMT questions following the notice. This intermediate level, group internet-based course has no prerequisites or advanced preparation. Final CPE award to be based on content, polling and length of participation. See CPE FAQ for more information.

EY webcast managed and produced by Ernst & Young LLP’s Tax Technical Knowledge Services Group, Washington, DC: Lynn Fairfax | lynn.fairfax@ey.com and Barbara Kirchheimer | Barbara.Kirchheimer@ey.com

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