Choose the Correct Statement

question 35

Multiple Choice

Choose the correct statement:

• A)The corporate alternative minimum tax applies to all corporations including S corporations.
• B)The exemption amount is phased out at a rate of $1.00 for every $1.00 by which the corporation's alternative minimum taxable base exceeds $210,000.
• C)The alternative minimum tax is imposed at 26 percent on the alternative minimum tax base up to $150,000 and 28 percent on the AMT base that is greater than $150,000.
• D)The alternative minimum tax base is equal to the corporation's regular taxable income increased or decreased for certain adjustments,increased by tax preference items,and decreased by the exemption amount.

---

Definitions:

Documentary Short

A non-fiction film of relatively short duration that documents reality, primarily for the purposes of instruction, education, or maintaining a historical record.

Biograph

An early American motion picture company, known for its pioneering role in the development of cinema in the late 19th and early 20th centuries.

General Film Company

An early American motion picture production and distribution company that was a significant force in the film industry during the silent era.

Exchange System

A network or process whereby goods, services, or resources are traded between parties without the use of money, or the infrastructure that supports the distribution and exhibition of films to theaters.