Which of the Following Statements Is True

question 123

Multiple Choice

Which of the following statements is true?

• A)All corporations are subject to AMT.
• B)Small corporations with average annual gross receipts of less than $10 million are not subject to AMT.
• C)The AMT rate is 25% of AMT income after exemption.
• D)The AMT exemption amount is $40,000 for corporations with AMT income of $150,000 or less.