Internal Revenue Code Section 59A

URI: https://gptkb.org/entity/Internal_Revenue_Code_Section_59A
GPTKB entity
Statements (22)
Predicate Object
gptkbp:instanceOf section of the Internal Revenue Code
gptkbp:administeredBy gptkb:Internal_Revenue_Service
gptkbp:alsoKnownAs gptkb:Base_Erosion_and_Anti-Abuse_Tax
gptkbp:appliesTo certain large corporations
gptkbp:baseErosionMinimumTaxAmount BEMTA
gptkbp:citation 26 U.S.C. § 59A
gptkbp:codifiedIn gptkb:Title_26_of_the_United_States_Code
gptkbp:enactedBy gptkb:Tax_Cuts_and_Jobs_Act_of_2017
gptkbp:excludes cost of goods sold
certain payments subject to U.S. withholding tax
qualified derivative payments
https://www.w3.org/2000/01/rdf-schema#label Internal Revenue Code Section 59A
gptkbp:imposedTaxOn base erosion payments
gptkbp:purpose prevent base erosion and profit shifting
gptkbp:relatedTo international taxation
anti-abuse rules
gptkbp:startDate 2018-01-01
gptkbp:taxStatus 10% (generally)
12.5% (for tax years after 2025)
gptkbp:threshold applies to corporations with average annual gross receipts of at least $500 million
gptkbp:bfsParent gptkb:base_erosion_and_anti-abuse_tax_(BEAT)
gptkbp:bfsLayer 6