Which of the following statements regarding the alternative minimum tax is false?
A) Small corporations are exempt from the AMT.
B) Corporations compute the AMT by multiplying their AMT base by 35% and subtracting their regular tax liability.
C) All first-year corporations are exempt from the AMT.
D) None of the choices are false (choose if you believe all of these above statements are true) .
Correct Answer:
Verified
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