Which of the Following Statements Regarding AMT Is True

question 15

Multiple Choice

Which of the following statements regarding AMT is true?

• A) Only very profitable companies (AMTI greater than $1 million) have their AMT exemption phased out.
• B) The AMT exemption is phased out dollar for dollar as AMTI increases.
• C) Minimum tax credits are generated whenever regular tax liability exceeds tentative minimum tax.
• D) Minimum tax credits can be carried forward indefinitely.

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Definitions:

Product Layout

A layout requiring that production be broken down into relatively simple tasks assigned to workers, who are usually positioned along an assembly line.