Form Dr 0104amt - Colorado Alternative Minimum Tax Computation Schedule - 2014 Page 2
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1
2Example:
of their federal adjusted gross income is Colorado source
Taxpayers are nonresidents of Colorado. Their federal
income. They have federal alternative minimum tax
adjusted gross income is $100,000, $9,000 of which is U.S.
adjustments of $27,100 relating to itemized deductions.
government interest. They have $4,800 of non-Colorado
Their tax preference items are $28,000, $24,000 of which
state bond interest. Their federal itemized deductions are
relate to Colorado activities. Their Colorado alternative
$31,100, and their federal exemptions are $6,800. $29,000
minimum tax computation is as follows:
Colorado
Colorado
Total
Portion
Percentage
1. Federal adjusted gross income
$
100,000 $
29,000
2. State Interest addition
4,800
3. Total
$
104,800 $
29,000
4. U.S. Interest subtraction
9,000
5. Modified federal A.G.I.
$
95,800
30.27%
6. Federal itemized deductions
31,100
7. Federal exemptions
6,800
8. Modified federal taxable income
$
57,900
9. Normal tax at 4.63%
$
2,681
10. Prorated at 30.27%
$
812
11. Modified federal taxable income from line 8
$
57,900 $
17,526
30.27%
12. Exemption addback
6,800
2,058
30.27%
13. Modified federal line 36 amount
$
64,700 $
19,584
14. Adjustments
27,100
8,203
30.27%
15. Preferences
28,000
24,000
16. Modified federal alternative minimum taxable income (lines 13, 14 and 15) $
119,800 $
51,787
43.23%
17. Federal alternative minimum tax exemption
69,950
18. Net
$
49,850
19. Alternative Minimum tax at 3.47%
$
1,730
20. Prorated at 43.23%
$
748
21. Minus normal tax
812
22. Colorado alternative minimum tax
$
236
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