“(i) a corporation meets the average annual adjusted financial statement income test for a taxable year if the average annual adjusted financial statement income of such corporation (determined without regard to section 56A(d)) for the 3-taxable-year period ending with such taxable year exceeds $1,000,000,000, and “(B) AVERAGE ANNUAL ADJUSTED FINANCIAL STATEMENT INCOME TEST.-For purposes of this subsection.
“(A) IN GENERAL.-The term ‘applicable corporation’ means, with respect to any taxable year, any corporation (other than an S corporation, a regulated investment company, or a real estate investment trust) which meets the average annual adjusted financial statement income test of subparagraph (B) for one or more taxable years which. “(k) Applicable corporation.-For purposes of this part. (2) APPLICABLE CORPORATION.- Section 59 is amended by adding at the end the following new subsection: “(B) OTHER CORPORATIONS.-In the case of any corporation which is not an applicable corporation, the tentative minimum tax for the taxable year shall be zero.”. “(ii) the corporate AMT foreign tax credit for the taxable year. “(i) 15 percent of the adjusted financial statement income for the taxable year (as determined under section 56A), over “(A) APPLICABLE CORPORATIONS.-In the case of an applicable corporation, the tentative minimum tax for the taxable year shall be the excess of. (1) IN GENERAL.-Paragraph (2) of section 55(b) is amended to read as follows:
0 kommentar(er)
