Their tentative minimum tax is : AMT Amount = A * (B – C) – D
A = 15%
B = The individual's adjustable tax income.
C = $40,000, the AMT exemption amount.
D = Allowable non-refundable tax credits.
TMT = 15% × (14,35,700 - 40,000) - 158,200
TMT = 51,155
<h3 /><h3>What is a provisional tax?</h3>
The least tax that a person may deduct from an estate tax is known as the tentative tax. After all exemptions and deductions to reduce tax liability have been used, the estimated tax is calculated. Placing an estate's total worth in the appropriate estate tax category yields a rough estimate of the tax.
<h3>What distinguishes the AMT from the tentative minimum tax (TMT)?</h3>
The difference between the two sums is utilized to generate a tax using a rate schedule after the two sums have been computed. The discrepancy produces the so-called preliminary minimum tax (TMT).
To know more about tax visit:-
brainly.com/question/16423331
#SPJ4
