California Schedule P (100) - Alternative Minimum Tax And Credit Limitations - Corporations - 2005

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Alternative Minimum Tax and
TAXABLE YEAR
CALIFORNIA SCHEDULE
2005
Credit Limitations — Corporations
P (100)
Attach to Form 100.
Corporation name
California corporation number
Tentative Minimum Tax (TMT) and Alternative Minimum Tax (AMT) Computation
Part I
1 Net income (loss) after state adjustments. Enter the amount from Form 100, line 18; Schedule R, line 1c; or Form 109,
the lessor of line 1 or line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
2 Adjustments. See instructions
a Depreciation of tangible property placed in service after 1986 . . . . . . . . . . . . . . . . . . . . . . 2a
b Amortization of certified pollution control facilities placed in service after 1986 . . . . . . . . . 2b
c Amortization of mining exploration and development costs incurred after 1987 . . . . . . . . . 2c
d Basis adjustments in determining gain or loss from sale or exchange of property . . . . . . . 2d
e Long-term contracts entered into after February 28, 1986 . . . . . . . . . . . . . . . . . . . . . . . . . 2e
f Installment sales of certain property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2f
g Tax shelter farm activities (personal service corporations only) . . . . . . . . . . . . . . . . . . . . . 2g
h Passive activities (closely held corporations and personal service corporations only) . . . . 2h
i Certain loss limitations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2i
j Beneficiaries of estates and trusts. Enter the amount from Schedule K-1 (541), line 8 . . . . 2j
k Merchant marine capital construction funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2k
l Combine line 2a through line 2k . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2l
3 Tax preference items. See instructions
a Depletion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3a
b Intangible drilling costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3b
c Accelerated depreciation of real property placed in service before 1987 . . . . . . . . . . . . . . . 3c
d Amortization of certified pollution control facilities placed in service before 1987 . . . . . . . 3d
e Charitable contributions including appreciated property. See instructions . . . . . . . . . . . . . 3e
f Add line 3a through line 3e . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3f
4 Pre-adjustment alternative minimum taxable income (AMTI):
a Combine line 1, line 2l, and line 3f . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4a
b Apportioned pre-adjustment AMTI. If income is derived from sources both within and outside of California,
see instructions. Otherwise, enter amount from line 4a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4b
5 Adjusted current earnings (ACE) adjustment:
a Enter ACE. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5a
b Apportioned ACE. If income is derived from sources both within and outside of
California, see instructions. Otherwise, enter amount from line 5a . . . . . . . . . . . . . . . . . . . 5b
c Subtract line 4b from line 5b (even if one or both of the figures are negative).
If negative, use brackets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5c
d Multiply line 5c by 75% (.75) and enter the result as a positive number . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5d
e Enter the excess, if any, of the corporation’s total increases in AMTI from prior year ACE adjustments over its total
reductions in AMTI from prior year ACE adjustments. Note: Enter an amount on line 5e (even if line 5c is positive) . . . . . . 5e
f ACE adjustment:
If line 5c is a positive amount or zero, enter the amount from line 5d on line 5f as a positive amount.
If line 5c is a negative amount, enter the smaller of line 5d or line 5e on line 5f as a negative amount . . . . . . . . . . . . . . . 5f
6 Combine line 4b and line 5f. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
7 a Reduction for disaster loss carryover deduction, if any, from Form 100, line 22 . . . . . . . . 7a
b AMT net operating loss (NOL) deduction. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . 7b
c Combine line 7a and line 7b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7c
8 AMTI. Subtract line 7c from line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
9 Enter $40,000 exemption. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
10 Enter $150,000 limitation. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
11 Subtract line 10 from line 8. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
12 Multiply line 11 by 25% (.25) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
13 Exemption. Subtract line 12 from line 9. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
14 Subtract line 13 from line 8. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
15 Multiply line 14 by 6.65% (.0665) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
16
Banks and financial corps. Multiply Form 100, line 23, by 2.00% (.0200). See instructions . . . . . . . .
16
P10005103
Schedule P (100) 2005 Side 1

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