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The alternative minimum tax (AMT) is an income tax imposed by the United States federal government on individuals, corporations, estates, and trusts. AMT is imposed at a nearly flat rate on an adjusted amount of taxable income above a certain threshold (also known as exemption). This exemption is substantially higher than the exemption from regular income tax. Regular taxable income is adjusted for certain items computed differently for AMT, such as depreciation and medical expenses. No deduction is allowed for state taxes or miscellaneous itemized deductions in computing AMT income. Taxpayers with incomes above the exemption whose regular Federal income tax is below the amount of AMT must pay the higher AMT amount. A predecessor "minimum tax", enacted in 1969, imposed an additional tax on certain tax benefits for certain taxpayers. The present AMT was enacted in 1982 and limits tax benefits from a variety of deductions. On January 2, 2013, President Barack Obama signed the American Taxpayer Relief Act of 2012, which indexes to inflation the income thresholds for being subject to the tax. ==AMT basics== Each year a taxpayer must pay the greater of an alternative minimum tax (AMT) or regular tax.〔(Calculating the Alternative Minimum Tax ), Congressional Budget Office Economics and Budget Issue Brief, 2010, page 2. See Willis & Hoffman (2009) page __, and Pratt & Kulsrud (2010) Chapter 13, both cited in "Further reading" section.〕 For many tax payers, the effective marginal tax rates are 0% (exemption), 26% (low bracket), 32.5% (low bracket with exemption phase out), 35% (high bracket with exemption phase out), and 28% (high bracket) with increasing taxable income as modified for AMT. As with regular Federal income tax, rates and exemptions vary by filing status. The lower rate and the exemption are phased out above certain income levels at 25% of AMT income. A lower rate applies on capital gains (and qualifying dividends). 〔(26 USC 55 ). Also see IRS (Form 6251 ) (individuals) and (Form 4626 ) (corporations).〕 * In addition, corporations with average annual gross receipts of $7,500,000 or less for the prior three years are exempt from AMT, but only so long as they continue to meet this test.〔(26 USC 55(e) ).〕 Further, a corporation is exempt from AMT during its first year as a corporation. Affiliated corporations are treated as if they were a single corporation for all three exemptions ($40,000, $7.5 million, and first year).〔(26 USC 1561(a)(3) ).〕 To the extent AMT exceeds regular Federal income tax, a future credit is provided which can offset future regular tax to the extent AMT does not apply in a future year. However, this credit is limited: see further details in the "AMT credit against regular tax" section. Regular tax used as a basis for computing AMT is found on the following lines of tax return forms: individual (Form 1040 ) Line 44, or corporate (Form 1120 ) Schedule J line 2 less foreign tax credit.〔(26 USC 55(c) ).〕 Under the AMT, no deduction is allowed for personal exemptions (other than the AMT specific exemption, which is larger than the personal exemption except for high income taxpayers), nor is the standard deduction.〔(26 USC 56(b) ).〕 State, local, and foreign taxes are not deductible. However, most other itemized deductions apply at least in part. Significant other adjustments to income and deductions apply. Individuals must file IRS (Form 6251 ) and corporations must file (Form 4626 ) if they have any net AMT due. The form is also filed to claim the credit for prior year AMT. Other individual adjustments in computing AMT include:〔(26 USC 56(b) ). For a table of AMT Adjustments, see, ''e.g.'', Pratt & Kulsrud (2006) page 13-9.〕 *Miscellaneous itemized deductions are not allowed. These include all items subject to the 2% "floor", such as employee business expenses, tax preparation fees, etc. *The home mortgage interest deduction is limited to interest on purchase money mortgages for a first and second residence. *Medical expenses may be deducted only if they exceed 10% of Adjusted Gross Income, as compared to 7.5% for regular tax. *Inclusion of the bargain element of an Incentive Stock Option when exercised, regardless of whether the stock can immediately be sold. Many AMT adjustments apply to businesses operated by individuals or corporations.〔(26 USC 56 ) and (26 USC 57 ).〕 The adjustments tend to have the effect of deferring certain deductions or recognizing income sooner. These adjustments include: *Depreciation deductions must be computed using the straight line method and longer lives than may be used for regular tax. (See MACRS) *Deductions for certain "preferences" are limited. These include deductions related to: * *circulation costs, * *mining costs, * *research and experimentation costs, * *intangible drilling costs, and * *certain amortization. *Certain income must be recognized earlier, including: * *long term contracts and * *installment sales. Certain other adjustments apply. Corporations are also subject to an adjustment (up or down) for adjusted current earnings.〔(26 USC 56(g) ).〕 In addition, a partner or shareholder's share of AMT income and adjustments flow through to the partner or shareholder from the partnership〔(26 USC 702(a)(7) ) providing for (26 CFR 1.58-2(b) ).〕 or S corporation.〔(26 USC 1366 ) and for (26 CFR 1.58-4 ).〕 AMT is reduced by a foreign tax credit, limited based on AMT income rather than regular taxable income.〔(26 USC 59(a) ).〕 Certain specified business tax credits are allowed.〔(26 USC 38(c) ). These credits include the credits for alcohol used as fuel, low income housing, work opportunity, empowerment zone, renewable electricity, FICA tip, rehabilitation, and energy.〕 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Alternative minimum tax」の詳細全文を読む スポンサード リンク
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