Alternative Minimum Tax and
CALIFORNIA SCHEDULE
TAXABLE YEAR
P (100)
2015
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 17; Schedule R, line 1c; or Form 109,
0
0
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
00
b Amortization of certified pollution control facilities placed in service after 1986 . . . . .
. .
2b
00
c Amortization of mining exploration and development costs incurred after 1987 . . . . .
. .
2c
00
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
00
g Tax shelter farm activities (personal service corporations only) . . . . . . . . . . . . . . . . . .
. .
2g
00
h Passive activities (closely held corporations and personal service corporations only).
. .
2h
00
i Certain loss limitations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. .
2i
00
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
0
0
l Combine line 2a through line 2k . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . .
2l
3 Tax preference items. See instructions
00
a Depletion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. .
3a
b Intangible drilling costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. .
3b
00
0
0
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
0
0
. . . . . . . . . . . . . . . . . . . . . . . . . . . .
b Apportioned pre-adjustment AMTI. If income is derived from sources both within an
d outside of California,
0
0
see instructions. Otherwise, enter the amount from line 4a . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . .
4b
5 Adjusted current earnings (ACE) adjustment:
00
a Enter ACE. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. .
5a
b Apportioned ACE. If income is derived from sources both within and outside of
00
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).
00
If negative, use brackets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. .
5c
0
0
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 A
CE adjustments over its total
0
0
reductions in AMTI from prior year ACE adjustments. Enter an amount on line 5e (eve
n 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.
•
0
0
If line 5c is a negative amount, enter the smaller of line 5d or line 5e on line 5f as a
negative amount . . . . . . . . . . . . . .
5f
0
0
6 Combine line 4b and line 5f. If zero or less, enter -0-. . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . .
6
00
7 a Reduction for disaster loss deduction, if any, from Form 100, line 21 . . . . . . . . . . . . .
. .
7a
b AMT net operating loss deduction. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . .
. .
7b
00
0
0
c Combine line 7a and line 7b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . .
7c
0
0
8 AMTI. Subtract line 7c from line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . .
8
9 Enter $40,000 exemption. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . .
9
0
0
0
0
10 Enter $150,000 limitation. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . .
10
0
0
11 Subtract line 10 from line 8. If zero or less, enter -0-. . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . .
11
0
0
12 Multiply line 11 by 25% (.25). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . .
12
0
0
13 Exemption. Subtract line 12 from line 9. If zero or less, enter -0- . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . .
13
0
0
14 Subtract line 13 from line 8. If zero or less, enter -0-. . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . .
14
00
15 Multiply line 14 by 6.65% (.0665) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. .
15
00
16 Banks and financial corps. Multiply Form 100, line 22, by 2.00% (.0200). See instructions
16
.
. .
Schedule P (100) 2015 Side 1
7951153