EXCUSE ME: Unlike the BURP, the new corporate minimum tax might last more than a moment.
That’s the book untaxed reported profits adjustment from the 1986 tax overhaul that we’re talking about — the forerunner to the 15 percent minimum tax on big corporations’ financial statement income that Democrats enacted over the summer.
The BURP expired after three years, and wasn’t particularly missed when it was gone. (In fact, some Washington tax veterans who worked on it said the acronym was far better than the policy.)
