The Small C Corporation Exemption from AMT Continues as Long

question 87

Multiple Choice

The Small C corporation exemption from AMT continues as long as average gross receipts for the three preceding tax years are

• A)$6.5 million or less.
• B)$7.0 million or less.
• C)$7.5 million or less.
• D)$8.0 million or less.

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Definitions:

Positive Regard

The acceptance and love a person receives from others, often considered critical in personal development and psychology.

Annual Staff Picnic

A yearly organized gathering for employees to socialize and relax outside of the work environment.

Discharged

Released from a hospital or medical care, indicating that the patient no longer requires in-patient care.