The partner responsible for tax matters on the Alpha, Inc., account has asked you to check the final calculation of Alpha's AMT liability, which has been prepared by Alpha's controller. She provides you with the following information:
Taxable income $4,768,600
Foreign tax credit (regular tax and AMT) $ 62,400
What is Alpha's alternative minimum tax, if any?
assuming the alternate minimum tax rate is 20% Then alternate... View the full answer