By Todd Reinstein (April 9, 2018, 4:09 PM EDT) -- The recently passed Tax Cuts and Jobs Act eliminated the corporate alternative minimum tax, or AMT.[1] Before its repeal, a corporate taxpayer that was subject to the AMT was entitled to indefinitely carry forward the AMT taxes paid as minimum tax credits, or AMT credit, and utilize the AMT credit against regular tax liabilities in future years. The TCJA further provided that corporate taxpayers carrying forward AMT credits into taxable years beginning after Dec. 31, 2017, may be able to offset a portion of their regular tax liability with the AMT credit. For tax years beginning after 2017 and before 2022, 50 percent of the excess AMT credits are either claimable against corporate taxpayers' federal tax liability or refundable, and any remaining AMT credits are fully refundable in tax years beginning in 2021.[2]...
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