In each of the following independent situations, determine the tentative minimum tax (assume that the companies are not a small corporation):
Amti (before the exemption amount):
Arleen corporation $160,000
Benitez corporation $ 210,000
Chestnut corporation $ 350,000
The corporate tax rates in the U.S. are structured based on total gross income. In this case, we would calculate in this manner -
$160,000 gross income
Using the corporate tax table ...
This solution calculates the tax rates for the companies listed with explanations regarding the calculations.