California Schedule P (100) - Alternative Minimum Tax And Credit Limitations - Corporations - 2012

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Alternative Minimum Tax and
CALIFORNIA SCHEDULE
TAXABLE YEAR
P (100)
2012
Credit Limitations — Corporations
Attach to Form 100 or Form 109.
Corporation name
California corporation number
Part I
Tentative Minimum Tax (TMT) and Alternative Minimum Tax (AMT) Computation
1 Net income (loss) after state adjustments. Enter the amount from Form 100, line 18; Schedule R, line 1c; or Form 109,
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the lesser of line 1 or line 2. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
2 Adjustments. See instructions
00
a Depreciation of tangible property placed in service after 1986 . . . . . . . . . . . . . . . . . . . . . . . 2a
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b Amortization of certified pollution control facilities placed in service after 1986 . . . . . . . . . 2b
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c Amortization of mining exploration and development costs incurred after 1987 . . . . . . . . . 2c
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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
00
00
f Installment sales of certain property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2f
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g Tax shelter farm activities (personal service corporations only) . . . . . . . . . . . . . . . . . . . . . . 2g
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h Passive activities (closely held corporations and personal service corporations only). . . . . 2h
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i Certain loss limitations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2i
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j Beneficiaries of estates and trusts. Enter the amount from Schedule K-1 (541), line 12a . . 2j
00
k Merchant marine capital construction funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2k
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l Combine line 2a through line 2k . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2l
3 Tax preference items. See instructions
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a Depletion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3a
b Intangible drilling costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3b
00
00
c Add line 3a and line 3b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3c
4 Pre-adjustment alternative minimum taxable income (AMTI):
a Combine line 1, line 2l, and line 3c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4a
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b Apportioned pre-adjustment AMTI. If income is derived from sources both within and outside of California,
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see instructions. Otherwise, enter the amount from line 4a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4b
5 Adjusted current earnings (ACE) adjustment:
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a Enter ACE. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5a
b Apportioned ACE. If income is derived from sources both within and outside of
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California, see instructions. Otherwise, enter the amount from line 5a. . . . . . . . . . . . . . . . . 5b
c Subtract line 4b from line 5b (even if one or both of the figures are negative).
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If negative, use brackets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5c
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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
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reductions in AMTI from prior year ACE adjustments. 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.
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If line 5c is a negative amount, enter the smaller of line 5d or line 5e on line 5f as a negative amount . . . . . . . . . . . . . . . . 5f
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6 Combine line 4b and line 5f. If zero or less, enter -0-. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
00
7 a Reduction for disaster loss carryover deduction, if any, from Form 100, line 22 . . . . . . . . . 7a
b AMT net operating loss deduction. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7b
00
00
c Combine line 7a and line 7b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7c
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8 AMTI. Subtract line 7c from line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
9 Enter $40,000 exemption. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
00
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10 Enter $150,000 limitation. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
00
11 Subtract line 10 from line 8. If zero or less, enter -0-. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
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12 Multiply line 11 by 25% (.25). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
00
13 Exemption. Subtract line 12 from line 9. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
00
14 Subtract line 13 from line 8. If zero or less, enter -0-. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
00
15 Multiply line 14 by 6.65% (.0665) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
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16 Banks and financial corps. Multiply Form 100, line 23, by 2.00% (.0200). See instructions
16
. . .
Schedule P (100) 2012 Side 1
7951123

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