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Silver Corporation has average gross receipts of $5.7 million, $4.6 million, and $4.8 million for the...

Silver Corporation has average gross receipts of $5.7 million, $4.6 million, and $4.8 million for the last 3 years, respectively. Silver is

a. not subject to the corporate income tax.

b. a small corporation with respect to the AMT.

c. not subject to the AMT.

d. not a small corporation with respect to the AMT.

e. None of the above

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Answer #1

B.A Small corporation with Subject To AMT

Should calculate both corporate tax and AMT and should pay the higher one

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