Course Details
hours
3.0
price
$13.45
  • Course:
  • Internet
  • Exam:
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Alternative Minimum Tax for Businesses

Tax CE >> Oregon >> Tax Preparer
Study Level: Intermediate
Delivery Method: Online self-study
Provider of Record: WebCE
Field of Study: Taxes

Prerequisites:
Students taking this course should be familiar with the general operating and accounting principles of corporations and other business entities.

Course Description:
The current corporate alternative minimum tax was enacted, at least in part, to ensure that all financially successful corporations pay some portion of their net income as income taxes. This course presents a comprehensive review of how to compute the corporate AMT. Other business entities will also be discussed.
  
The course begins with a discussion of the basic structure and underlying concepts of the corporate AMT. Next is a comprehensive review of the details of the adjustments and preferences to be used to compute AMTI. Most of the adjustments and preferences discussed also apply to noncorporate taxpayers; however there are a few adjustments and preferences that apply only to noncorporate taxpayers. These are discussed under the heading of "AMT for Business Entities Other Than Corporations."

Learning Objectives:
Upon completion of this course, students will be able to:
  • identify the corporations subject to the AMT
  • identify the tax formula for the corporate AMT
  • recognize the levels of income and adjustments that generally result in the corporate AMT
  • identify and compute the rates, exemption, and credits of the corporate AMT
  • determine the AMT adjustments for a corporate taxpayer
  • determine the AMT preferences for a corporate taxpayer
  • identify the business entities other than corporations subject to the AMT
  • identify the tax formula, rates, and exemption for the individual AMT
  • determine the AMT adjustments for a noncorporate taxpayer
  • determine the AMT preferences for a noncorporate taxpayer
  • identify the AMT requirements for partnerships, S corporations, trusts, and estates
Revised 3/2017