From The Encyclopedia of Taxation and Tax Policy
Minimum taxes are intended to increase tax payments from taxpayers who, under the rules of the regular tax system, are believed to pay too little tax relative to a more standard measure of ther income. The U.S. federal income tax has both a personal and a corporate alternative minimum tax (AMT). The complex corporate tax is designed to increase the income tax on businesses by adjusting for a wide range of preferences awarded to corporations under the standard system. This article details the AMT calculation, revenues, and purpose.