Bradbury Corp., a calendar-year corporation, was formed on January 2, 2011, and had gross receipts for its first four taxable years as follows:
Year / Gross receipts
2011 / $4,500,000
2012 / $9,000,000
2013 / $9,500,000
2014 / $6,500,000
What is the first taxable year that Bradbury Corp. is NOT EXEMPT from the alternative minimum tax (AMT)?
a. 2012
b. 2013
c. 2014
d. Bradbury is exempt from AMT for is first four taxable years.
Answer: C
Tax
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