CompX(CIX) - 2022 Q4 - Annual Report

On August 16, 2022, the Inflation Reduction Act was signed into law. Among other things, this legislation provides for a 15% corporate alternative minimum tax on certain large corporations, imposes a 1% excise tax on qualifying Under the "Tax Cuts and Jobs Act," domestic corporations who are U.S. exporters with no foreign operations may be eligible for a deduction under the foreign derived intangible income (FDII) provisions. We qualify for this deduction and recognized a current cash tax benefit of $.1 mil ...