Cypress corporation has regular taxable income of 170000


Cypress Corporation has regular taxable income of $170,000 (assume annual gross receipts are greater than $5 million) and a regular tax liability of $49,550 for 2014. The corporation also has tax preference items amounting to $105,000. Calculate Cypress Corporation's alternative minimum tax liability. Assume Cypress Corporation is not a "small corporation" for AMT purposes.

$

Request for Solution File

Ask an Expert for Answer!!
Financial Management: Cypress corporation has regular taxable income of 170000
Reference No:- TGS01212881

Expected delivery within 24 Hours