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IRS Releases Initial Guidance on Stock Buyback Tax

This OnPoint provides an overview of §4501 and guidance from Notice 2023-2 for the new 1% federal excise tax on stock buybacks (repurchases), which is effective beginning in 2023. Taxpayers can rely on the guidance set forth in the Notice until proposed regulations are published.

This OnPoint includes graphic examples and explanations of IRS guidance for the following topics:

Calculating the excise tax base
Statutory exceptions
Qualifying repurchase transactions
Application of leveraged buyouts
Corporate reorganization

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