United States

Puerto Rico issues procedures for claiming back invalidated AMT

INSIGHT ARTICLE  | 

On August 24, 2016, the United States Court of Appeals for the First Circuit affirmed a lower court decision that a newly added component of the Puerto Rico Alternative Minimum Tax was unconstitutional as impermissibly discriminating against interstate commerce (see prior coverage here.) The government of Puerto Rico subsequently acquiesced to this decision, and has published procedures for taxpayers who paid the invalidated tax in 2015 to obtain a credit against future taxes in the amount of the invalidated tax (Puerto Rico will not issue outright refunds of this tax).

Read more about this from RSM Puerto Rico.

AUTHORS


Receive our tax newsletters by Email

Subscribe


How can we help you with international tax concerns?