Beggin Corporation had $100,000 of regular taxable income in 2017. It had $40,000 of positive adjustments and

Question:

Beggin Corporation had $100,000 of regular taxable income in 2017. It had $40,000 of positive adjustments and a $50,000 preference item. What was the corporation’s alternative minimum tax liability for 2017?
a. $38,000
b. $30,000
c. $9,750
d. $0

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...

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