what is the first taxable year that bradbury corp is not exempt from the alternative 625445
Bradbury Corp., a calendar-year corporation, was formed on January 2, 2004, and had gross receipts for its first four taxable years as follows:
|
Year |
Gross receipts |
|
2004 |
$4,500,000 |
|
2005 |
9,000,000 |
|
2006 |
9,500,000 |
|
2007 |
6,500,000 |
What is the first taxable year that Bradbury Corp. is not exempt from the alternative minimum tax (AMT)?
- 2005
- 2006
- 2007
- Bradbury is exempt from AMT for its first four taxable years.