Rose Corporation, a calendar-year corporation, has alternative minimum taxable income (before any exemption) of $270,000 for 2016.
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Question:
Rose Corporation, a calendar-year corporation, has alternative minimum taxable income (before any exemption) of $270,000 for 2016. The company is not a small corporation. If the regular corporate tax is $55,000. Calculate the following relating to the AMT calculations: Exemption amount Tentative Minimum Tax Alternative minimum tax for 2016 Brown Corporation has AMTI in the amount of 275,000. Calculate Brown's TMT:
a. Exemption amount
b. tentative minimum tax
c. alternate minimum tax for 2016
Related Book For
South western Federal Taxation 2018 Corporations Partnerships Estates and Trusts
ISBN: 978-1337385985
41st edition
Authors: William H. Hoffman, William A. Raabe, James C. Young, Annette Nellen, David M. Maloney
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