How exactly is the BEAT calculated? Walk me through the minimum tax computation.
I understand BEAT conceptually but I'm struggling with the actual math. My U.S. corporation has $150 million in taxable income, $40 million in base erosion payments that are deductible, and $5 million in R&D credits. Our regular tax would be $31.5 million. Can you walk me through how to determine if we owe BEAT and how much?
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