Form Amti - Alternative Minimum Tax - 2012
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1
22012 AMT I
Alternative Minimum Tax 2012
Calculation of Income
Name of corporation/designated filer
FEIN
Minnesota tax ID
You must round amounts
to nearest whole dollar.
1
1 Minnesota net income (from M4I, line 7) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
2 Federal adjustments (from federal Form 4626, sum of lines 2a - 2k and line 2o) . . . . . . . . . . . . . .
3a
3 a Intangible drilling costs (from federal Form 4626, line 2n) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3b
b Reduction allowed under IRC section 57(a)(2)(E) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
Add lines 3a and 3b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
4 Add lines 1, 2 and 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
5 Enter amount from your federal adjusted current earnings (ACE) worksheet, line 2c . . . . . . . . . . . .
6
6 Enter the sum of lines 3b through 3e of your federal ACE worksheet . . . . . . . . . . . . . . . . . . . . . . . . .
7
7 Enter the sum of lines 4b through 4e of your federal ACE worksheet . . . . . . . . . . . . . . . . . . . . . . . . .
8
8 Enter the sum of lines 5f, 6, 7 and 9 of your federal ACE worksheet . . . . . . . . . . . . . . . . . . . . . . . . .
9
9 Add lines 5, 6, 7 and 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10
10 Multiply line 9 by 0 .75 . Enter as a positive number . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11
11 Excess of prior ACE increases over reductions (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12 ACE adjustment
If line 9 is zero or more, enter amount from line 10 as a positive number .
If line 9 is less than zero, enter amount from line 10 or 11 (whichever is less) as
12
a negative number . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
13 Add lines 4 and 12 .
If zero or less, or if $310,000 or more, skip lines 14a and 14b and enter zero on line 14 .
13
If between zero and $310,000, continue on line 14a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14a
-150,000.00
14 a Subtract $150,000 from line 13 . If zero or less, enter zero . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14b
-37,500.00
b Multiply line 14a by 0 .25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14
-77,500.00
Exemption (subtract line 14b from $40,000) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
15 If line 13 is zero or less, enter amount from line 13 .
15
If line 13 is more than zero, subtract line 14 from line 13; if result is zero or less, enter zero . . . . .
16
16 Total nonapportionable income (from M4I, line 8) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
17 Alternative minimum taxable income before zone AMT exclusion
17
(subtract line 16 from line 15) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
18
18 Job Opportunity Building Zone AMT exclusion (from JOBZ, line 20) . . . . . . . . . . . . . . . . . . . . . . . . . .
19
19 Alternative minimum taxable income (subtract line 18 from line 17) . . . . . . . . . . . . . . . . . . . . . . . . .
Enter amount on AMTT, line 1.
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Parent category: Financial