A corporation subject to AMT has AMT income of $270,000.What is the amount of alternative minimum tax?

Question

Quizplus · Accepted Answer

The alternative minimum tax (AMT) rate for corporations is 20%. Therefore, the AMT is calculated as 20% of $270,000, which equals $54,000. However, the question seems to have a discrepancy in the options provided, as $54,000 is not listed. Assuming a mistake in the options, the closest correct calculation would be $54,000, but based on the options, $52,000 is the closest.

A Corporation Subject to AMT Has AMT Income of $270,000