Finance Questions
» Finance Questions, Volume 7, Issue 7, 2007
If respondent is the owner of the business.
Congress continues to review the Alternative Minimum Tax (AMT), proposing various taxable income levels above which additional taxes will be levied and below which benefits will be granted.The remaining questions are asked with that tax in mind.
6. When you last filed your personal income tax, did you or your tax preparer have to CALCULATE an Alternative Minimum Tax (AMT)?
| Response | ||||
|---|---|---|---|---|
| 1 | Yes | 24 | ||
| 2 | No | 55 | ||
| 3 | DK/Refuse | 22 | ||
| Total (%) | 101 | |||
| N | 623 | |||
Notes: Twenty-four (24) percent of small employers who are the owner of the business calculated an Alternative Minimum Tax (AMT) on their last personal income tax filing.
