The corporate alternative minimum tax is designed to insure that corporations with substantial economic income will pay their fair share of the federal tax burden.

Question

Quizplus · Accepted Answer

The statement is true. The corporate alternative minimum tax is a separate tax system that ensures corporations with high economic income do not use tax deductions and credits to avoid paying federal taxes. Instead, they must pay a minimum tax amount based on their income, allowing for a more equitable distribution of the tax burden.

The Corporate Alternative Minimum Tax Is Designed to Insure That