TITLE 26. INTERNAL REVENUE CODE § 55. Alternative minimum tax imposed [Caution: For the inflation adjustment of certain items in this section, see the Revenue Procedure which appears as 26 USCS § 1 note.]., 26 USCS § 55

Summary

(a) General rule. There is hereby imposed (in addition to any other tax imposed by this subtitle [26 USCS §§ 1 et seq.]) a tax equal to the excess (if any) of—

(1) the tentative minimum tax for the taxable year, over

(2) the regular tax for the taxable year plus, in the case of an applicable corporation, the tax imposed by section 59A [26 USCS § 59A].

(b) Tentative minimum tax. For purposes of this part [26 USCS §§ 55 et seq.]—

(1) Noncorporate taxpayers. In the case of a taxpayer other than a corporation—

(A) In general. The tentative minimum tax for the taxable year is the sum of—

(i) 26 percent of so much of the taxable excess as does not exceed $175,000, plus

(ii) 28 percent of so much of the taxable excess as exceeds $175,000.

The amount determined under the preceding sentence shall be reduced by the alternative minimum tax foreign tax credit for the taxable year.

(B) Taxable excess. For purposes of this subsection, the term “taxable excess” means so much of the alternative minimum taxable income ...