Interim Guidance From The Treasury Department On The 1% Corporate Stock Buyback Tax - Tax Authorities
A new nondeductible 1% excise tax imposed on certain stock repurchases (enacted as new section 4501 as part of the Inflation Reduction Act on August 12, 2022) (the "Stock Buy-back Excise Tax") went into effect on January 1, 2023.
Tax Base Amount Inflation Reduction Act Buy Back Excise Stock Buy Back Excise Tax Tax Base Excise Tax Base
Source: mondaq.com