The Minimum Tax Credit Available for a Corporation's Alternative Minimum

question 19

True/False

The minimum tax credit available for a corporation's alternative minimum tax liability can be carried forward indefinitely and offsets regular tax liabilities in future years.

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Definitions:

Instalment Payments

Payments made periodically towards the settlement of a debt or purchase price, typically including interest.

Interest

The charge for borrowing money or the compensation paid to depositors on their deposits, usually expressed as an annual percentage rate.

Unpaid Balance

The amount of money that is still owed on a loan or credit line that has not yet been paid.