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A month ago, Ryan organized his small business into a closely-held corporation and wants to know how the alternative minimum tax will affect his company.
A month ago, Ryan organized his small business into a closely-held corporation and wants to know how the alternative minimum tax will affect his company. As his tax advisor, you inform him that:
A) his company will receive AMT treatment similar to a trust.
B) an AMT exemption does not exist for small corporations.
C) his company will be exempt from the AMT for this first tax
D) his company is exempt from the AMT if the received less than $8 million in gross receipts.
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