Tropical Corporation was formed in 2015.For 2015 through 2017,its regular and tentative minimum tax were as follows: Corporate tax rate schedule. a.Compute Tropical's tax due for each year.
b.In 2018,Tropical's regular taxable income is $2,000,000,and it has positive AMT adjustments of $500,000 and AMT preferences of $600,000.Compute Tropical's regular tax,tentative minimum tax,and tax due for 2018.

Question

Tropical Corporation was formed in 2015.For 2015 through 2017,its regular and tentative minimum tax were as follows: Corporate tax rate schedule.   a.Compute Tropical's tax due for each year.
b.In 2018,Tropical's regular taxable income is $2,000,000,and it has positive AMT adjustments of $500,000 and AMT preferences of $600,000.Compute Tropical's regular tax,tentative minimum tax,and tax due for 2018.

Quizplus · Accepted Answer

The Answer of Tropical Corporation was formed in 2015.For 2015 through 2017,its regular and tentative minimum tax were as follows: Corporate tax rate schedule.   a.Compute Tropical's tax due for each year.
b.In 2018,Tropical's regular taxable income is $2,000,000,and it has positive AMT adjustments of $500,000 and AMT preferences of $600,000.Compute Tropical's regular tax,tentative minimum tax,and tax due for 2018.

Tropical Corporation Was Formed in 2015