This posting thoroughly discusses the AMT.
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Alternative Minimum Tax discussion.
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This solution provides a thorough discussion of the Alternative Minimum Tax.
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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 ...
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