ALTERNATIVE MINIMUM TAXES / CHANGES HIT FIRMS REPORTING BOOK INCOME ABOVE TAXABLE INCOME

The Journal Record | November 26, 1987 | Copyright

Many traditional year-end reduction strategies will have to be re-examined if a corporation is subject to the alternative minimum tax, according to David Greenwell, tax executive for the Ernst & Whinneyk accounting firm in Oklahoma City.

Even corporations that never had to worry about alternative minimum tax will likely have to be concerned with the computation beginning in 1987, he said. Specially targeted for alternative minimum tax liabilities are corporations reporting book income significantly in excess of taxable income.

Although December 31 is quickly approaching, Greenwell ...

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