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A growing list of SPACs plan to liquidate early to avoid a possible 1% excise tax in 2023

November 11, 2022

The recently-enacted Inflation Reduction Act introduced a 1% excise tax on stock buybacks beginning in 2023, and in the absence of guidance from the Treasury Department, it is unclear whether the tax applies to SPAC share redemptions. More and more SPACs are acting as if it will, and...

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