Gerbil Corporation was formed in 2004. If in 2014, it has average gross receipts of under $7.5 million, the company cannot be subject to the AMT.

Name: Gerbil Corporation was formed in 2004. If in 2014, it has average gross receipts of under $7.5 million, the company cannot be subject to the AMT.
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Question

Quizplus · Accepted Answer

Corporations with average annual gross receipts of $7.5 million or less for the previous three years are exempt from the Alternative Minimum Tax (AMT).

Gerbil Corporation Was Formed in 2004