Which of the following is incorrect regarding the Alternative Minimum Tax for the State? Select...
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Which of the following is incorrect regarding the Alternative Minimum Tax for the State? Select one: a. California has just one AMT rate. b. California and federal phase-out rates are conformal. c. California AMT exemption amounts for AMT are not the same as the federal. d. The California AMT exemption is phased-out by a 25 cent reduction per dollar the AMTI exceeds the beginning of the phase-out range
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