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Non-Tech : The ENRON Scandal
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To: Mephisto who wrote (735)1/17/2002 6:17:34 PM
From: Logain Ablar  Read Replies (2) of 5185
 
M:

While I'm not one to favor giving non growth corporations a tax break eliminating the alt M tax would be a boon to corporations. A ton of planning and compliance is done to avoid this trap or get out of it once in.

One thing the press misses in all of this is the alt m is timing only. it starting point is book income and then has various adjustments (earlier tax act benefits for what ever reason, including items like tax exempt interest which helps the states financing, accelerated depreciation which helps capital intensive industries and I assume the reason GM was hit).

On an individual company basis once you pay the alt m you have an automatic alt m credit carryforward which you then plan for to utilize in the future against your your regular income tax.

I agree this piece won't stimulate the creation of jobs but it will make corporate life eaiser.
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