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safezone safezone
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7 years ago
Identify which of the following statements is false.
A) The alternative minimum tax is the excess of the tentative minimum tax amount over the regular tax amount.
B) All corporations with gross receipts of less than $10 million are exempt from the AMT.
C) If the firm does not qualify for Small C corporation status, the C corporation statutory exemption amount for alternative minimum tax purposes is phased out when alternative minimum taxable income reaches $310,000.
D) The purpose of the AMT is to ensure that every taxpayer with substantial economic income pays a minimum tax.
Textbook 
Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts

Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts


Edition: 27th
Authors:
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That's not philosophy, it's geometry
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strwbrrystrwbrry
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#1
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7 years ago
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1
Every man, wherever he goes, is encompassed by a cloud of comforting convictions, which move with him like flies on a summer day.
   --Bertrand Russell, 1950

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safezone Author
wrote...

7 years ago
Good timing, thanks!
nicolepope23
wrote...

Yesterday
Brilliant ツ
Shassta22
wrote...

2 hours ago
Thanks
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