Get Form 401-2002. Key Corporation And Affiliates Claiming Ama Threshold Limit For Periods Beginning On

Filling out Form 401-2002 is essential for Key Corporation and its affiliates to claim the Alternative Minimum Assessment threshold limit. This guide provides step-by-step instructions to help users navigate through the form efficiently.

Follow the steps to complete your Form 401-2002 online.

1. Press the ‘Get Form’ button to acquire the form and open it for editing.
2. In the top section, provide the name of the Key Corporation, its Federal Identification Number, and the New Jersey Corporation Number in the specified fields.
3. Proceed to Part I. In Column (A), list the names of all affiliated corporations. In Column (B), enter their respective Federal Identification Numbers (FID).
4. Next, in Column (C), enter the calculated Corporation Business Tax (CBT) for each affiliate as outlined on page 1, line 15 of the CBT-100 packet. Ensure to include the minimum tax of either $500 or $2,000.
5. In Column (D), record the AMA Excess, which is the difference between the Alternative Minimum Assessment and the CBT for each affiliate, as determined from Schedule AM, Part VII, line 5.
6. For the Key Corporation, complete line K with the relevant information.
7. Total the amounts in Column (C) and Column (D) at the bottom of Part I for the overall CBT and AMA Excess respectively.
8. Now, move to Part II. Line 1 will have the Maximum Alternative Minimum Assessment amount of $20,000,000 pre-filled.
9. For Line 2, input the Total CBT Liability you calculated from Part I, Column (C).
10. Subtract the value from Line 2 from the amount from Line 1 for Line 3. If the result is zero or less, enter zero. This indicates no AMA liability.
11. Enter your Total Excess AMA amount from Column (D) into Line 4.
12. On Line 5, indicate the lesser value between Line 3 and Line 4, as this represents the Total AMA due by the Key Corporation. Carry this amount to Line 17 of page 1 of the CBT-100-R.
13. Once you have completed all sections of the form, you can save your changes, download a copy, print the document, or share it as needed.

Complete your Form 401-2002 online to ensure compliance and streamline your reporting process.