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The Required Adjustment for AMT Purposes for Pollution Control Facilities

question 113

True/False

The required adjustment for AMT purposes for pollution control facilities placed in service in 2012 is equal to the difference between the amortization deduction allowed for regular income tax purposes and the depreciation deduction computed under ADS.


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A punishment imposed for breaking a law, rule, or contract which often involves paying a fine or undergoing some form of restraint.

Implied Powers

Powers not explicitly stated but are considered necessary for fulfilling the expressly granted powers of an authority or government body.

Incorporated

refers to the process by which a business becomes a legally recognized entity that is distinct from its owners, providing benefits like liability protection and tax advantages.

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The legal name under which a corporation is registered to conduct business.

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