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Which of the following statements is true? a) All corporations are subject to AMT. b) Small corporations with average annual gross receipts of less than

Which of the following statements is true?

a) All corporations are subject to AMT.

b) Small corporations with average annual gross receipts of less than $10 million are not subject to AMT.

c) The AMT rate is 25% of AMT income after exemption.

d) The Tax Cuts and Jobs Act of 2017 repealed the corporate alternative minimum tax (AMT) beginning in 2018.

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