Assertion: minimum tax | /r/HasProperty | amt
Facets:
Source sentences:
text: The law temporarily raised the exemption amount and exemption phase-out threshold for the alternative minimum tax (AMT), a device intended to curb tax avoidance among high earners by making them estimate their liability twice and pay the higher amount.
text: The bill also eases the burden of the individual alternative minimum tax (AMT) by raising the income exempted from $84,500 (adjusted for inflation) to $111,700 married filing jointly and from $54,300 (adjusted for inflation) to $71,700 for single taxpayers, so fewer taxpayers will pay it in 2019.
text: The biggest includes a reduction in the top corporate rate to 21%, a new 20% deduction for incomes from certain type of “pass-through” entities (partnerships, S Corps, sole proprietorships), limits on expensing of interest from borrowing, almost doubling of the amount small businesses can expense from the 2017 Section 179 amount of $510,000 to $1,000,000, and eliminates the corporate alternative minimum tax (AMT).
text: California has an alternative minimum tax (AMT) with a rate of 7%.