[uptowngirl549]

Just a quick question on the AMT Tax Rate and Exemption Amount for Corporations:

is it 25% and 40,000 or 20% and 40,000?

I wrote down from my CPAExcel review questions that it was 25%/40,000. I just answered a NINJA question and it was 20%/40,000…so I am slightly confused as to which one is correct.

FAR - 78
AUD - 66, 91
REG - August 28, 2014
BEC - 74, 79

[leglock]

Amt is 20 percent and exemption is 40k.

To see how much of the 40 k exemption u lose u subtract 150k from amti and multply the difference by 25 percent and this then yields the amount by which ur 40 k exemption is reduced. I think that is where u r getting the 25 percent figure from

[uptowngirl549]

Thanks! 🙂

FAR - 78
AUD - 66, 91
REG - August 28, 2014
BEC - 74, 79

[Author]

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