Which of the following statements regarding AMT is true?
A) Only very profitable companies (AMTI greater than $1 million) have their AMT exemption phased out.
B) The AMT exemption is phased out dollar for dollar as AMTI increases.
C) Minimum tax credits can be carried forward indefinitely.
D) Minimum tax credits are generated whenever regular tax liability exceeds tentative minimum tax.
Correct Answer:
Verified
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