Alternative Minimum Tax, Personal

Research Report

Alternative Minimum Tax, Personal

From The Encyclopedia of Taxation and Tax Policy
October 1, 1999

Abstract

The personal alternative minimum tax (AMT) requires individuals to calculate their income tax a second way, different from the regular income tax. Separate tax rates and definitions of taxable income apply in each of these tax systems. This article explores the history and justification for the AMT, as well as the treatment of tax preferences in the AMT.

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