Willtem Corporation has total general business credits of $25,000. It has a net regular tax liability of

Question:

Willtem has total general business credits of $25,000. It has a net regular tax liability of $17,000, and its tentative alternative minimum tax is $13,000. What can Willtem deduct as its general business credit?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...