A corporation has regular taxable income of $370,000 and a regular tax liability of $125,800. It has

Question:

A has regular taxable income of $370,000 and a regular tax liability of $125,800. It has positive tax preference items totaling $310,000. You have determined that the is subject to alternative minimum tax because it has average annual gross receipts of $9,000,000. Determine the amount of AMT owed by the if any.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...