1. Crockett Corporation, a calendar year C corporation, reports net income of $2,000,000,000 on its 2023 audited financial statements (including financial statement depreciation of $250,000,000). Also, for 2023, Crockett reports taxable income of $900,000,000 (including tax depreciation of $400,000,000). Assume that Crockett's average annual AFSI for the three-year period ending December 31, 2023, is in excess of $1,000,000,000. 
2. Also, assume that Crockett has no AMT foreign tax credit for 2023. 
3. Compute Crockett's 2023 corporate AMT.

Answer rating: 100% (QA)

To compute Crockett Corporations 2023 corporate Alternative Minimum Tax AMT we need to follow the st... View the full answer