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)