Unformatted text preview: such knowledge will also be considered. • Show your work and label computation for partial credit. • Make sure that you answer each part of the question. • You must turn in your exam no later than 8:50 p.m. • Allocate your time ± wisely. • Good Luck! ♣ AMT amounts you may need: Corporations: The AMT exemption is $40,000, and is reduced by 25% of AMTI (before the exemption) in excess of $150,000. The AMT tax rate is 20%. Individuals: The AMT exemption is $70,950 (MFJ), and is reduced by 25% of AMTI (before the exemption) in excess of $150,000. The AMT tax rate is 26% of the first $175,000 and 28% of the amount in excess of $175,000....
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- Fall '09
- Taxes, alternative minimum tax, AMT tax rate