Campbell, Inc., a calendar year corporation created in February 2011, has gross receipts as follows: Year Gross

Question:

Campbell, Inc., a calendar year corporation created in February 2011, has gross receipts as follows:

Year Gross Receipts

2011 ……………………………….. $2,990,220

2012 ……………………………….. 3,310,763

2013 ……………………………….. 4,885,027

2014 ……………………………….. 7,626,681

2015 ……………………………….. 9,120,132

In which years does Campbell qualify for the AMT small corporation exemption? Explain.

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...