Financial

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.

Mentioned in

References in periodicals archive

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.

Finance or lease: which is right for the machine tool industry?

All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.