Alternative Minimum Tax (AMT)

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Alternative Minimum Tax (AMT) prevents the reduction of your tax liability to zero

calculate if you are using tax shelters or other tax-reducing schemes
ensures that everyone with earned income pays some tax
Tax Payable = min[Tax under regular rules, Tax under minimum tax rules]

(1)

$Tax \, Payable = min[ {Tax }_{Regular \, Rules }, \; {Tax }_{AMT \, Rules } ]$

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