The Required Adjustment for AMT Purposes for Pollution Control Facilities

question 88

True/False

The required adjustment for AMT purposes for pollution control facilities placed in service in 2010 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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Definitions:

High-tech Industries

Sectors that are heavily involved in the development and production of technology, including computing, telecommunications, and biotechnology.

Double-Entry Accounting

An accounting system in which every business transaction is recorded in an asset account and a liability or owner’s equity account so that the system will balance.

Owner's Equity

The residual interest in the assets of a company after subtracting liabilities, often referred to as shareholder's equity in a corporation.

Liabilities

Financial obligations or debts that a company or individual owes to others.