Sec. 111005. Extension of base erosion minimum tax amount
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/bill/119/hr/1/rh/section-111005A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 59A(b) is amended by striking paragraph
(2)and by redesignating paragraphs
(3)and
(4)as paragraphs
(2)and (3), respectively. Section 59A(b)(1) is amended by striking Except as provided in paragraphs
(2)and
(3)and inserting Except as provided in paragraph
(2). Section 59A(b)(2), as redesignated by subsection (a)(2), is amended by striking the percentage otherwise in effect under paragraphs (1)(A) and (2)(A) shall each be increased and inserting the percentages otherwise in effect under paragraph (1)(A) shall be increased . Section 59A(e)(1)(C) is amended by striking in the case of a taxpayer described in subsection (b)(3)(B) and inserting in the case of a taxpayer described in subsection (b)(2)(B) . The amendments made by this section shall apply to taxable years beginning after December 31, 2025.