Analyzing past securities filings, researchers from the University of North Carolina’s Tax Center found that fewer than 80 publicly traded U.S. companies would have paid any corporate minimum tax in 2021 had the tax been in effect. Businesses, including media company Liberty Media Corp., in recent weeks have pressed for additional information from the Treasury Department and the Internal Revenue Service on the implications of the tax. “It’s casting a very wide net,” David Rievman, a partner at law firm Skadden, Arps, Slate, Meagher & Flom LLP, said of the minimum tax. Among the concerns from businesses is that reorganizations could cause a company to become subject to minimum tax, or increase their tax liability. Without the deduction, the company would pay another level of corporate tax on that dividend.

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