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  • 2007 Form 4626. Alternative Minimum Tax--corporations

Get 2007 Form 4626. Alternative Minimum Tax--corporations

Form 4626 Department of the Treasury Internal Revenue Service OMB No. 15450175 Alternative Minimum TaxCorporations 2007 See separate instructions. Attach to the corporations tax return. Name 1 2 Employer.

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The Inflation Reduction Act of 2022 (P.L. 117-169) imposes a corporate alternative minimum tax (CAMT) of 15% on the adjusted financial statement income of large corporations.

The AMT applies to taxpayers who have certain types of income that receive favorable treatment, or who qualify for certain deductions, under the tax law. These tax benefits can significantly reduce the regular tax of some taxpayers with higher economic incomes.

The Corporate AMT is a tax of 15% on “adjusted financial statement income” (as described in detail below) as opposed to adjusted taxable income — a significant departure from the general approach to U.S. tax policy. The new Corporate AMT will apply to tax years beginning after December 31, 2022.

Applicable corporations are those organizations that meet the AFSI test and are not exempt from the AMT.

Exemption for Small Corporations Its average annual gross receipts for all 3-tax-year periods (or portions thereof during which the corporation was in existence) ending before its current tax year did not exceed $7.5 million ($5 million for the corporation's first 3-tax-year period). See section 55(e).

Beginning in 2023, the United States will apply a 15% corporate alternative minimum tax (CAMT). The CAMT applies to corporations with average annual adjusted book income over $1 billion for a period of three consecutive years.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232