A federal tax aimed at ensuring that wealthy individuals, estates, trusts, and corporations pay a minimal level income tax. For individuals, the AMT is calculated by adding adjusted gross income to ta [..]

The alternative minimum tax (AMT) was designed to ensure that all taxpayers pay at least the minimum federal income tax for their income level, no matter how many deductions or credits they claim. The AMT is actually an extra tax, calculated separately and added to the amount the taxpayer owes in regular income tax. Some items that are usually tax [..]

Taxation based on an alternative method of calculating federal income tax under the Internal Revenue Code. Interest on certain private activity bonds is subject to the AMT. See: INTERNAL REVENUE CODE; [..]

An IRS system created to ensure that high-income individuals, corporations, trusts, and estates pay a minimum amount of tax, regardless of deductions, credits, or exemptions. To arrive at AMT, certain [..]

A method of calculating income tax with a unique set of rules for deductions and exemptions that are more restrictive than those in the traditional tax system. The AMT attempts to ensure that certain high-income taxpayers don’t pay a lower effective tax rate than everyone else. To determine whether or not the AMT applies, taxpayers must fill out IR [..]

Definition AMT. An IRS system created to ensure that high-income individuals, corporations, trusts, and estates pay at least some minimum amount of tax, regardless of deductions, credits or exemptions [..]

This is an IRS mechanism created to ensure that corporations, trusts, high-income individuals, and estates all pay at least some minimum amount of tax, regardless of deductions, exemptions or credits. [..]

a federal tax that prevents a person or entity (as a corporation) with taxable income from avoiding tax liability and that imposes tax liability in the amount of the excess of the tentative minimum .. [..]

A special tax system which was originally intended to prevent wealthy taxpayers from taking advantage of so many tax breaks that they end up paying little or no taxes. The AMT affects more and more mi [..]

Tax imposed to back up the regular income tax imposed on CORPORATION and individuals to assure that taxpayers with economically measured income exceeding certain thresholds pay at least some income ta [..]

This term is used to refer to the federal income tax liability of insurers, without regard to whether the insurer has taxable income using standard calculations.

An alternative way of calculating income under the Internal Revenue Code. Interest on private-activity bonds [other than 501(c)(3) obligations] issued after August 7, 1986, is used for such a calculation.

A flat tax to ensure that corporate and high-income taxpayers pay at least some minimum tax, regardless of their deductions. An alternative, separate tax calculation based on a taxpayer's regular [..]

Separate tax calculation based on the taxpayer's regular taxable income, which is increased by the taxpayer's preferences for the year. The resulting amount is called the Alternative Minimum [..]

is income tax owed using a parallel tax code designed to ensure that every taxpayer, particularly rich ones and corporations, pay at least some income tax each year.

Alternative Minimum Tax (AMT)is a tax on certain "preference items," most of which are tax deductions allowed under the normal income tax calculation. It is a part of Federal Income Tax syst [..]

(impôt minimum de remplacement). A tax levied under personal income tax to ensure that high-income Canadians claiming preferential tax deductions or credits pay a reasonable amount of tax in any given [..]

With the 1986 Tax Reform Act, a new tax basis was created for businesses. This tax is to ensure that a minimum tax is paid by profitable companies if extensive use is made of tax preference items (primarily depreciation). The specifics of the AMT are very complicated. However, leasing may be a way to limit a company's exposure to the AMT.

A method of calculating income tax that disallows certain deductions, credits, and exclusions. This was intended to ensure that individuals, trusts, and estates that benefit from tax preferences do no [..]

A tax calculation designed to prevent taxpayers from escaping their fair share of tax liability by taking numerous tax breaks; it adds certain tax preference items back into adjusted gross income. If [..]

A method of calculating income tax with a unique set of rules for deductions and exemptions that are more restrictive than those in the traditional tax system. The AMT attempts to ensure that certain [..]

An alternative way of calculating income under the Internal Revenue Code. Interest on private-activity bonds [other than 501(c)(3) obligations] issued after August 7, 1986, is used for such a calculat [..]

The required minimum tax calculation which ensures that high income earners will be required to pay.

A method of calculating income tax with a unique set of rules for deductions and exemptions that are more restrictive than those in the traditional tax system. The AMT attempts to ensure that certain [..]

Federal tax, revamped by the Tax Reform Act of 1986, aimed at ensuring that wealthy individuals, trusts, estates and corporations pay at least some tax.

The AMT on modified taxable income plus tax preferences is paid if and to the extent it exceeds a taxpayer’s regular tax. The AMT is imposed to reduce the tax advantages derived from preferential trea [..]

A method of calculating income tax that disallows certain deductions, credits, and exclusions. This was intended to ensure that individuals, trusts, and estates that benefit from tax preferences do no [..]

A method of calculating income tax with a unique set of rules for deductions and exemptions that are more restrictive than those in the traditional tax system. The AMT attempts to ensure that certain high-income taxpayers don’t pay a lower effective tax rate than everyone else. To determine whether or not the AMT applies, taxpayers must fill out IR [..]

Federal tax aimed at ensuring the wealthy individuals, trusts, estates and corporations pay at least some income tax. There are separate calculations for individuals and corporations.

An IRS mechanism created to ensure that high-income individuals, corporations, trusts, and estates pay at least some minimum amount of tax, regardless of deductions, credits or exemptions.

A tax calculation that adds certain tax preference items back into adjusted gross income. If AMT is higher than the regular tax liability for the year, the regular tax and the amount by which the AMT [..]

Alternative minimum tax (AMT) is a separate tax system, complimentary to the federal income tax system. The AMT system attempts to make sure that anyone who benefits from certain tax advantages will pay at least a minimum amount of tax. Top

A method of calculating income tax that disallows certain deductions, credits, and exclusions. This was intended to ensure that individuals, trusts, and estates that benefit from tax preferences do not escape all federal income tax liability. People must calculate their taxes both ways and pay the greater of the two.

  An alternative, separate tax calculation based on the taxpayer's regular taxable income, increased by certain tax benefits, collectively referred to as “tax preference items.” The taxpayer pays [..]

A federal tax aimed at ensuring that wealthy individuals, estates, trusts, and corporations pay a minimal level income tax. For individuals, the AMT is calculated by adding adjusted gross income to ta [..]