Examlex
What are the two main reasons why spelling is important? Why are these particularly important in academic essay writing?
Corporation
A legal entity that is separate and distinct from its owners, providing limited liability and the ability to raise capital.
AMT Income
AMT Income refers to the income calculation used to determine the Alternative Minimum Tax, designed to prevent high-income taxpayers from excessively reducing their tax liability through credits and deductions.
Phase Out
A gradual reduction of a tax credit or deduction as a taxpayer's income surpasses a designated threshold.
Minimum Tax Exemption
An amount exempt from alternative minimum tax (AMT), designed to ensure that taxpayers with substantial income pay at least a minimum amount of tax.
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