Current tax law provides for a dual system, the regular tax and alternative minimum tax. In effect,

Question:

Current tax law provides for a dual system, the regular tax and alternative minimum tax. In effect, a corporation pays the greater of the regular tax or the tentative minimum tax. Why did Congress enact such a dual system? How could Congress replace the dual system with a single tax system?

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...

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