Alternative Minimum Tax Income

Alternative Minimum Tax Income

In the United States, income subject to the alternative minimum tax. It is calculated by adding certain deductions back into a person's adjusted gross income and then subtracting the AMT exemption. The taxpayer pays a percentage of the alternative minimum tax income rather than his/her AGI. See also: Tentative minimum tax, Bracket creep.
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Under new rules, depreciation on new assets, while continuing to reduce regular taxable income, also can increase the Alternative Minimum Tax Income (AMTI) created by the law.
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