Alternative Minimum Tax discussion.
This paper addresses the discussion of corporate alternative minimum tax.
The purpose of the AMT for corporations is to ensure that corporations pay at least a minimum amount of tax on economic income. A corporation is liable for AMT if its tentative minimum tax is more than its regular tax. A corporation is exempt from paying AMT if it is the corporation's first tax year in existence, or it was treated as a small corporation exempt from AMT for all prior tax years after Mary 1997, and average annual gross receipts for the three tax year period ending ...
This solution provides a thorough discussion of the Alternative Minimum Tax.