Question: A corporation will not be subject to the alternative minimum tax for calendar year 2011 if a. The corporations net assets do not exceed $7.5

A corporation will not be subject to the alternative minimum tax for calendar year 2011 if

a. The corporation’s net assets do not exceed $7.5 million.

b. The corporation’s average annual gross receipts do not exceed $10 million.

c. The corporation has less than ten shareholders.

d. 2011 is the corporation’s first tax year.

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