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A 15% alternative minimum tax is applied to corporate financial statement income. This new tax would only apply to: Corporations with earnings of $1 billion

A 15% alternative minimum tax is applied to corporate financial statement income. This new tax would only apply to:

Corporations with earnings of $1 billion or more in average annual earnings in the previous three years.

Real estate investment trusts (REITs).

Regulated investment companies (RICs).

S corporations.

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