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Home : Multistate : Individual Taxes : Alternative Minimum Tax
Multistate : Individual Taxes : Alternative Minimum Tax State Taxes
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| State alternative minimum tax (AMT) is imposed by only ten states. These states are California, Colorado, Connecticut, Iowa, Maine, Minnesota, Nebraska, New York, West Virginia and Wisconsin. State AMT is computed by multiplying a fixed state alternative minimum tax rate by the taxpayer's state alternative minimum taxable income (AMTI). State AMTI is calculated by modifying the individual taxpayer's adjusted gross income by preference items, AMT itemized deductions and an AMT exemption amount. |
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