Created by the Tax Cuts and Jobs Act of 2017, the MRT requires that taxes be paid on certain corporate earnings and profits from controlled foreign corporations (i.e., foreign corporations that are majority owned by US persons) (Casetext - Moore v US 9th Circuit, Tax Foundation). The Moores, investors in an Indian company, challenged the MRT as unconstitutional because it was, among other things, beyond the scope of income taxes permitted by the 16th Amendment to the US Constitution (Oyez). The outcome of the case may touch on the constitutional viability of a federal "wealth tax" in the US (ABC News, Bloomberg Tax). The Supreme Court is expected to hand down its decision in its 2023 term, but if it does not, the question will close as "No." If the Court decides this case without addressing this question's particular issue of law, the question will close as "No."

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The question closed "No" with a closing date of 20 June 2024.

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