Inflation Reduction Act 2024 Cost Basis. Department of the treasury issues. The inflation reduction act imposes a corporate alternative minimum tax (amt) equal to the excess of 15% of a corporation’s adjusted financial statement income.

Most provisions of the inflation reduction act of 2022 became effective 1/1/2023. The inflation reduction act modifies and extends the clean energy investment tax credit to provide up to a 30% credit for qualifying investments in wind,.