Looking at the new tax proposals, it would have disproportionate effects on specific industries, some of which may be unintended, reflecting a tax proposal that has not been fully vetted:
• As a share of its income, the real estate & rental/leasing industry faces the heaviest burden of the book minimum tax, facing a net tax hike of 11.5 percent of its pretax book income, followed by mining, which faces a 6.3 percent tax hike.
• In dollar terms, the industries that would account for the largest book minimum tax liabilities are manufacturing, at $73.2B, followed by finance, insurance, and management at $46.9B.
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