In its first year of operations (2014), Lavender, Inc. (a C corporation) has gross receipts of $8 million and net income of $2 million. Lavender is not subject to the AMT for 2014.

Question

Quizplus · Accepted Answer

Since the question does not provide any information that would trigger Lavender, Inc. to be subject to AMT, we can assume that it is not subject to AMT for the given year based on the information provided.

In Its First Year of Operations (2014), Lavender, Inc