True or False?

1-Controlled group provisions in the tax law prevent taxpayers from splitting a corporation into several smaller corporations to take advantage of low marginal corporate tax rates at low levels of income. True False 50. Corporations are allowed to deduct at least some AMT exemption regardless of profitability.

2- A corporation with an AMTI of $400,000 will have all of its AMT exemption phased-out.

Please answer both by true or false!