Asked by Louie Allard on Jun 23, 2024
Verified
Corporations are not subject to alternative minimum tax.
Alternative Minimum Tax
A parallel tax system to the regular income tax that ensures that certain taxpayers pay at least a minimum amount of tax.
Corporations
Legal entities that are separate from their owners, capable of owning property, entering contracts, and being taxed.
Subject
A broad term typically referring to the main topic or person being discussed or studied.
- Acquire understanding of the unique tax treatments and provisions that apply to corporations, encompassing the alternative minimum tax and particular deductions.
Verified Answer
MB
Mackenzie BrownJun 27, 2024
Final Answer :
False
Explanation :
Corporations are subject to alternative minimum tax, which is a separate tax system designed to ensure that corporations with a high income pay at least a minimum amount of tax.
Learning Objectives
- Acquire understanding of the unique tax treatments and provisions that apply to corporations, encompassing the alternative minimum tax and particular deductions.
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