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Resource guide for corporate alternative minimum tax proposals

January 13, 2021

In recent years, proposals have surfaced for basing corporate income taxes not on the accounting that companies provide to the IRS, but on “book income” based on generally accepted accounting principles. For publicly-traded corporations, this means taxes would be based on the financial statements they report to shareholders. President-elect Joseph Biden has called for such a system, which could impose significantly higher taxes on many corporations.

The bibliography below provides a resource for anyone interested in getting up to speed on the history and implications of alternative corporate income taxes. It includes articles from a variety of perspectives dating back to the Tax Reform Act of 1986. It is arranged alphabetically by the author’s last name. Some of the links will not work for anyone without access to Loyola U. Chicago’s library, but at least you will have the reference to use for any library resources you do have available. The bibliography will likely grow over time, and lay the basis for a primer on the related accounting and public policy issues.

 

Corporate AMT Bibliography

Byrle Abbin, “Corporate Reporting: How Will the New Corporate AMT Affect Financial Statement Income?” Financial Executive, Nov/Dec 1987

Anna Akins, “What Joe Biden’s US Tax Plan Could Mean for Big Tech,” S&P Global Market Intelligence, October 2020

Barnes Wendling, “Insights on President-Elect Biden’s Tax Plan As It Impacts Individuals and Businesses,” November 2020

Charles Boynton, Paul Dobbins, George Plesko and Jeffrey Gramlich, “Earnings Management and the Corporate Alternative Minimum Tax,” Journal of Accounting Research, October 1992

Robert Brown and Philip Wiesner, “The Corporate Alternative Minimum Tax: Some Questions and Answers on the Book Income Adjustment,” The Tax Executive, Fall 1987

Terrence Chorvat and Michael Knoll, “The Case for Repealing the Corporate Alternative Minimum Tax,” SMU Law Review, 2003

Committee for a Responsible Federal Budget, “Senator Rand Paul Releases Flat Tax Plan,” November 2015

Mark Degler, “The Corporate Minimum Tax and the Book Income Adjustment: Problems and a Possible Alternative,” Virginia Tax Review, Spring 1988

Gary Guenther, “Business Investment and the Repeal of the Corporate Alternative Minimum Tax,” Congressional Research Service, March 2002 

Jeffrey Gramlich, “Discussion of Earnings Management and the Corporate Alternative Minimum Tax,” Journal of Accounting Research, January 1992

Michelle Hanlon and Jeff Hoopes, “Warren’s Corporate Tax Solution is Fundamentally Flawed,” The Hill, April 2019

Diana Hope, “Biden’s Proposed Minimum Book Tax Plans,” Accounting Web, November 2020

Robert Hunt and William Pollard, “Understanding the Corporate AMT Book Income and ACE Adjustments,” The Practical Accounting, April 1990

John Janiga, “The Corporate Alternative Minimum Tax: A Critique and Exploration of Alternatives,” Loyola U. Chicago Law Journal, 1988

Robert McIntyre and David Wilhelm, “Corporate Taxpayers and Corporate Freeloaders: Four Years of Continuing, Legalized Tax Avoidance by America’s Largest Corporations,” Citizens for Tax Justice, August 1985

Alex Parker, “Biden Minimum Tax Plan Could Collide With Economic Recovery,” Law360 Tax Authority, October 2020

Kyle Pomerleau, “An Analysis of Senator Warren’s ‘Real Corporate Profits Tax,’” Tax Foundation, April 2019

Kyle Pomerleau, “Joe Biden Wants to Reintroduce a Corporate Minimum Tax,” American Enterprise Institute, December 2019

Kyle Pomerleau, “Joe Biden’s Alternative Minimum Book Tax,” Tax Notes Federal, October 2020

Paul Shockett and Kate Matieu, “Biden’s Tax Proposals: Considering the Impact on Corporate Taxpayers,” Skadden, September 2020

Kyle Smith, “Elizabeth Warren’s Corporate Tax Plan Sounds Reasonable. It Isn’t,” Bloomberg, April 2019

Samuel Starr and Kathryn Kindren, “Corporate AMT: The Book Income Adjustment,” The Tax Adviser, September 1987

Omair Taher and Dustin Stamper, “The Future of Tax Law Hinges on the 2020 Election,” Accounting Today, February 2020

U.S. General Accounting Office, “Experience With the Corporate Alternative Minimum Tax,” April 1995

Warren Democrats, “Real Corporate Profits Tax,” Medium, April 2019

Garrett Watson, “Biden’s Minimum Book Income Tax Proposal Would Create Needless Complexity,” Tax Foundation, December 2019

Garrett Watson, Huaquin Li and Taylor LaJoie, “Details and Analysis of President-elect Joe Biden’s Tax Plan,” Tax Foundation, October 2020

Michael Winters, “How to Redirect Populist Anger? Enact Alternative Minimum Corporate Tax,” National Catholic Reporter, January 2021

Robert Wood and Nancy Hanrahan, “The Corporate Alternative Minimum Tax as a State Revenue Source,” National Tax Journal, September 1988

Matthew Yglesias, “Elizabeth Warren’s New Plan to Make Sure Amazon (And Other Big Companies) Pays Corporate Tax, Explained,” April 2019

 

 
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