Alternative Minimum Tax – Individuals
GPTKB entity
Statements (23)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
gptkb:tax_law
|
| gptkbp:administeredBy |
gptkb:Internal_Revenue_Service
|
| gptkbp:affects |
taxpayers with high deductions
taxpayers with incentive stock options taxpayers with large state and local tax deductions |
| gptkbp:appliesTo |
individual taxpayers
|
| gptkbp:calculationMethod |
parallel to regular income tax
|
| gptkbp:codifiedIn |
Internal Revenue Code Section 55
|
| gptkbp:country |
gptkb:United_States
|
| gptkbp:excludes |
standard deduction
personal exemptions certain income levels |
| gptkbp:form |
gptkb:Form_6251
|
| gptkbp:hasExemptionAmount |
varies by filing status
|
| https://www.w3.org/2000/01/rdf-schema#label |
Alternative Minimum Tax – Individuals
|
| gptkbp:introducedIn |
1969
|
| gptkbp:purpose |
ensure high-income individuals pay minimum tax
|
| gptkbp:requires |
recalculation of income with fewer deductions
|
| gptkbp:subject |
phase-out of exemption at higher incomes
|
| gptkbp:taxStatus |
28%
26% |
| gptkbp:bfsParent |
gptkb:Form_6251
|
| gptkbp:bfsLayer |
8
|