Question
For 2015, Apple Corporation (a calendar year integrated oil company) had the following transactions: Taxable Income $3,600,000 Reg. tax depreciation on realty in excess of
For 2015, Apple Corporation (a calendar year integrated oil company) had the following transactions:
| Taxable Income | $3,600,000 |
| Reg. tax depreciation on realty in excess of ADS (placed in service in 1989 | $1,530,000 |
| Excess intangible drillings costs | $450,000 |
| Percentage depletion in excess of the property's adjusted basis | $630,000 |
Assume no ACE adjustment.
a) Determine Apple Corp. AMTI for 2015.
b) Determine the tentative minimum tax base
c) Determine the tentative minimum tax
d) What is the amount of any AMT?
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Corporate Reporting In India Financial And Social Performance Disclosures
Authors: V.K. Vasal
1st Edition
8177081217, 978-8177081213
