Which of the following statements regarding the alternative minimum tax is false?
A) Corporations compute the AMT by multiplying their AMT base by 35% and subtracting their regular tax liability.
B) Small corporations are exempt from the AMT.
C) All first-year corporations are exempt from the AMT.
D)None of these is false (choose if you believe All of these above statements are true).

Question

Quizplus · Accepted Answer

Corporations compute the AMT by multiplying their AMT base by 20%, not 35%, and subtracting their regular tax liability.

Which of the Following Statements Regarding the Alternative Minimum Tax