Reply #141: The alternative minimum tax only applies to individuals

[creeksneakers2]

It doesn't apply to corporations.

http://www.irs.gov/taxtopics/tc556.html

There's a movement to raise the threshold where it kicks in. The tax was intended to stop rich people from totally avoiding taxes but now, because of inflation, upper middle class citizens will be forced to pay it if no Congressional action takes place. So there is bipartisan support for changes, but the hitch has been how to make up the revenue.

I don't know much about tax rules but a while back it turned out some of the presidential candidates have investments in the Caymans. The article said they had to pay taxes on the money and Congress closed the loophole.

In 2006 corporate taxes raised $351,093,182,000