The AMT exemption for a C corporation is $40,000 reduced by 35% of the amount by which AMTI exceeds $150,000.

Question

Quizplus · Accepted Answer

The AMT exemption for a C corporation is not based on a fixed formula like the one provided in the statement. The actual calculation is more complex and takes into account various factors including the corporation's income, deductions, and preferences. Therefore, the statement is false.

The AMT Exemption for a C Corporation Is $40,000 Reduced