alternative minimum tax
noun
: a U.S. federal income tax that was originally imposed to prevent wealthy taxpayers from using tax shelters to avoid paying taxes, that excludes many deductions and exemptions allowed in computing regular tax liability, and that must be paid instead of the regular tax liability by individuals and businesses whose alternative minimum tax liability is greater than their regular tax liability
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But all these possibilities have to be weighed against the fate of other provisions of the TCJA, which might reshape the deduction anyway (including the return of stricter rules for the alternative minimum tax).
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Joseph Thorndike, Forbes, 4 Nov. 2024
Also on the table is the alternative minimum tax, or AMT, which is a tax individuals have to pay if their income exceeds certain thresholds.
—Michelle Fox, CNBC, 18 Sep. 2024
That is because of the alternative minimum tax, which is designed to create a base tax rate for all earners.
—Tanza Loudenback, wsj.com, 9 Nov. 2023
Both plans would repeal the estate tax, the alternative minimum tax, and the tax on investment income imposed by Obamacare.
—Alex Raskolnikov, Foreign Affairs, 24 May 2017
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Joseph Thorndike, Forbes, 4 Nov. 2024
Also on the table is the alternative minimum tax, or AMT, which is a tax individuals have to pay if their income exceeds certain thresholds.
—Michelle Fox, CNBC, 18 Sep. 2024
That is because of the alternative minimum tax, which is designed to create a base tax rate for all earners.
—Tanza Loudenback, wsj.com, 9 Nov. 2023
Both plans would repeal the estate tax, the alternative minimum tax, and the tax on investment income imposed by Obamacare.
—Alex Raskolnikov, Foreign Affairs, 24 May 2017
See all Example Sentences for alternative minimum tax
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“Alternative minimum tax.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/alternative%20minimum%20tax. Accessed 30 Nov. 2024.
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