Which of the following statements regarding the alternative minimum tax is false?
A) Corporations compute the AMT by multiplying their AMT base by 35% and subtracting their regular tax liability.
B) Small corporations are exempt from the AMT.
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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