Interim Guidance on Stock Buyback Excise Tax Confirms Broad Application to M&A and Capital Market Transactions
Cooley M&A
JANUARY 19, 2023
The Excise Tax generally applies to the fair market value of stock repurchased in a taxable year, net of the fair market value of stock issued in the same taxable year, with certain modifications. There is a rebuttable presumption under the Notice, however, that such exception does not apply.
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