Mason Ethington (BYU), Jeffrey L. Hoopes (North Carolina; Google Scholar) & Jacob Thornock (BYU), The Corporate AMT Raises Little Revenue. Rescore and Repeal It., 187 Tax Notes Fed. 1431 (May 26, 2025):

In this article, the authors analyze the most recent SEC disclosures from public companies about the corporate alternative minimum tax, finding that few companies pay the tax (and it thus raises little revenue) but many discuss the uncertainty it creates. …

We examine public companies’ recent Form 10-K disclosures and analyze what they say about the corporate alternative minimum tax (referred to as “CAMT” in the filings, and in tax policy circles more broadly). We find that while many companies discuss the corporate AMT, few actually disclose paying it, and for those that do, some expect to recoup those amounts.

Our study shows that companies are disclosing few corporate AMT payments relative to the amount expected by the Joint Committee on Taxation score. In total, companies disclosed paying $572 million in corporate AMT, as compared with the roughly $35 billion expected by the JCT (as depicted in Figure 1).

In other words, the corporate AMT falls short of its projected generated revenue by more than 90 percent. Instead, companies commonly describe the corporate AMT as being complex and uncertain and leading to tax payments that are effectively immaterial.

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