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Alternative Minimum Tax (AMT)

A federal tax aimed at ensuring that wealthy individuals, estates, trusts, and corporations pay a minimal level income tax. For individuals, the AMT is calculated by adding adjusted gross income to tax preference items.
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In Denmark and Germany, a political subdivision equivalent to a county.
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Alternative minimum tax (AMT).

The alternative minimum tax (AMT) was designed to ensure that all taxpayers pay at least the minimum federal income tax for their income level, no matter how many deductions or credits they claim.

The AMT is actually an extra tax, calculated separately and added to the amount the taxpayer owes in regular income tax. Some items that are usually tax exempt become taxable and special tax rates apply. For example, income on certain tax-free bonds is taxable.

Increasing numbers of taxpayers trigger the AMT if they deduct high state and local taxes or mortgage interest expenses, exercise a large number of stock options, or have significant tax-exempt interest.

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Alternative Minimum Tax (AMT)

A method of computing tax under which some of the income and deductions reported on the forms and schedules filed with your tax return are figured differently or disallowed. For example, interest on certain tax-exempt bonds is taxable for the alternative minimum tax, certain itemized deductions are not allowed when figuring the alternative minimum tax, and the alternative minimum tax has its own exemption amount, not based on the number of exmptions claimed on your tax return. A taxpayer pays the larger of the "regular tax" or the alternative minimum tax. The alternative minimum tax is computed on Form 6251.
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References in periodicals archive ?
Over 500 students attend a school run by the Amtes which also offers vocational courses.
[...] sabee que elles nem eu nom temos voomtade per nehua guisa de tomarmos solldo do rei delRei de Castella, nem vosso pera o aver de servir; amte nos partiremos todos de vos, que avemos de tomar seu soodo nem seermos seus.
Program commenced with a tribute to the renowned social activist late Baba Amte by Seju Davis.
Thompson (Eds.) The work of mathematics teacher educators: Exchanging ideas for effective practice, AMTE Monograph 1, pp.
Prakash, 59, and Mandakini Amte, 60, of India won the Community Leadership award for helping millions of the Madia Gonds tribal people in India.
5, <<Uber die kirchliche Rechtsfalle, welche den Glauben, die Sacramente, die geistliche Verrichtungen und die mit dem geistlichen Amte verbundenen Pflichten und Rechte betreffen, hat der Gerichtshof des Erzbischofs nach Vorschrift der Kirchengesetze und nach den Bestimmungen des Concils von Trient zu erkennen.
* Panels and physical interaction at the annual meetings of the educational technology associations such as SITE, AERA, NECC, and the teacher educator content associations such as ASTE, AMTE, CUFA, and CEE.
Baba Amte, the legendary 91-year-old social activist and Gandhi Peace Prize winner who has acted as Patkar's mentor, told me that the moral sanction for offering up one's life in opposition to the dam is this: "The victor is he who even in defeat never surrenders." It sounds like Patkar's epitaph.
Meanwhile this regulation induces the oxygen consumption rate increase, more energy consumed (Savant & Amte 1995) and lead to a decline of the immune capacity in different pH levels.
Members of the org anization will have access to vendor discounts and giveaways, full access to e-seminars, subscriptions to both the magazine and the electronic monthly AMTe Newsletter, two passes to "Aviation Industry Week" and free access to the Aviall Maintenance Symposium.
It is called Take Heart and the evening will raise money for Baba Amte who runs a community that looks after the poorest, most handicapped people in India.
The main leaders of the protest movement, Medha Patekar and Baba Amte, have built around it the National Alliance for People's Movements (NAPM).