Question 60 of 75 Does the state conform to the IRC definition of a "Small Business" for AMT calculation purposes? Yes - The state conforms to the definition of small business as imposed by the TCJA to define the upper limit of averaged gross receipts to be less than $25 million. No - The state makes no exceptions for any AMT purpose regarding the size of a business. They are all treated with the same rules regardless of gross receipts. Yes, party - The state conforms to the definition of a small business per the IRC as of January 1st, 2015, and not including the changes made to averaged gross receipts under the passage of the TCJA. No - The state uses a different calculation formula based on employee size and otherwise doesn't conform to the IRC definitions of small business. Next