KPMG report: State tax implications of “Inflation Reduction Act”
Insights on how states approach conformity to federal tax laws and how states may conform to key provisions of the IRA
Insights on how states approach conformity to federal tax laws and how states may conform
The manner in which states have incorporated or may incorporate in the future the income tax provisions of H.R. 5376 (commonly called the “Inflation Reduction Act” (IRA)) into their own tax laws is an important issue taxpayers must take into account when determining the full impact of the IRA on their business.
Read a June 2023 report [PDF 128 KB] prepared KPMG LLP tax professionals that provides insights on how states approach conformity to federal tax laws and further analyzes how states may conform to key provisions of the IRA, including the corporate alternative minimum tax (CAMT), transferability of investment tax credits (ITCs) and production tax credits (PTCs), and related basis adjustments made to property qualifying for ITCs and/or PTCs.
KPMG report
State tax implications of “Inflation Reduction Act”
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