Which of the following statements is true?
A) Small corporations with average annual gross receipts of less than $10 million are not subject to AMT.
B) All corporations are subject to AMT.
C) The AMT exemption amount is $40,000 for corporations with AMT income of $150,000 or less.
D) The AMT rate is 25% of AMT income after exemption.
Correct Answer:
Verified
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